On March 16th, COINOTAG reported a notable development in the cryptocurrency market, highlighting the activities of a significant player known as the “Hyperliquid 50x Whale.” As Bitcoin (BTC) experienced a brief decline, this whale’s 40x short position has culminated in an impressive increase in unrealized profits, now amounting to $6.2 million. This particular short position carries a total nominal value of $366 million, initiated at an entry price of $84,043.2, with a liquidation threshold set at $85,596.
Furthermore, insights from HyperInsight reveal that only two hours prior, the Hyperliquid 50x Whale transferred 2.5 million USDC to bolster collateral within their Hyperliquid account, aiming to extend their short strategy. Such maneuvers underscore the whale’s confidence in current market trends and strategic positioning amidst BTC’s volatility, providing a crucial case study for investors and analysts monitoring short-selling actions in the cryptocurrency landscape.