Massive 5x Leverage Short Position on Bitcoin: $16 Million USDC Flows into Hyperliquid

COINOTAG News reported on May 11 that significant movements in the cryptocurrency market have taken place recently. According to Ashes Monitoring, 16 million USDC was strategically transferred into Hyperliquid as of May 9. This transaction enabled traders to establish a 5x leveraged short position valued at approximately $50.5 million across key cryptocurrencies including BTC, ETH, and SOL. The short entry prices for these positions are recorded at $104,161 for Bitcoin, $2,466 for Ethereum, and $174.1 for Solana. However, the current market conditions reflect a floating loss of $1.3 million, underscoring the inherent risks associated with leveraged trading in today’s volatile crypto environment.