$80 Million Bet Against Bitcoin by Hyperliquid Whale Raises Eyebrows
- A Hyperliquid whale placed an $80 million leveraged position, including a $40 million short on Bitcoin futures.
- The whale’s total position leverage was at seven times, with a liquidation price for Bitcoin futures set at $80,083.
- This trade coincided with a recovery in Bitcoin, which bounced back from a low of $66,000 to over $68,000.
- The whale has a history of significant losses, including a previous $40 million loss on leveraged bets across various cryptocurrencies.
- Traders are monitoring this position closely as it may indicate potential downward pressure on Bitcoin prices amidst market optimism.
The recent actions of the Hyperliquid whale suggest a strong bet against the market trend, particularly targeting Bitcoin and the S&P 500 while betting on rising Brent crude oil prices. This comes as geopolitical tensions remain high and market dynamics shift rapidly.
Given the whale’s previous losses totaling $40 million and its current bet against Bitcoin, there is speculation about whether this position will succeed or lead to further losses.(Source)
