Massive ETH Shorts Totaling Over $143M Triggered by Top Traders on Hyperliquid

On July 12, blockchain analytics platform Lookonchain reported significant leveraged short positions in the Ethereum market. Wallet 0x8c58 injected 3.74 million USDC into Hyperliquid and initiated a short position of 18,394 ETH using 15x leverage, representing a position valued at approximately $54.3 million. Earlier, wallet 0x2258 deposited 3.25 million USDC and opened a short on 16,219 ETH with 25x leverage, amounting to a $48 million exposure. Additionally, wallet 0xec4b established a short position of 13,845 ETH at 15x leverage, totaling a $41.07 million position. These large-scale leveraged shorts highlight increased bearish sentiment among sophisticated traders, potentially signaling market volatility ahead. Monitoring such substantial leveraged positions is critical for investors aiming to gauge risk dynamics within the Ethereum derivatives market.