COINOTAG News, December 19, citing Onchain Lens analytics, reports a large whale deposit and subsequent disposition of 255 BTC on HyperLiquid, valued at $21.77 million. The move underscores persistent on-chain activity among major holders and highlights evolving liquidity dynamics within the Bitcoin network.

In a follow-up, the same address opened a 10x leveraged short position on BTC and ETH, with a reported notional around $77.4 million, including 876.27 BTC ($76 million) and 372.78 ETH ($1 million). This configuration reflects deliberate risk positioning by a major holder and aligns with observed hedging activity across crypto markets during periods of liquidity readjustment.