Bitcoin Whale Shortens Position with $74.5 Million Bet on Hyperliquid Amid Price Surge

On April 23rd, COINOTAG reported significant activity within the cryptocurrency market, highlighting two prominent wallet addresses that are believed to be linked to a single whale investor. According to data from lookonchain, this entity executed a substantial short position on Bitcoin (BTC) via Hyperliquid, employing a 6x leverage. The short entries were made at advantageous prices of $92,469.1 and $92,664.8, accumulating a total position size of approximately $74.5 million. Notably, the liquidation prices for these positions stand at $107,220 and $107,160, respectively. This strategic move underlines the continuing volatility in the cryptocurrency market, where institutional players are actively managing risk and optimizing their exposure to Bitcoin’s price fluctuations.