Whale Trader Profits Over $15 Million While Shorting ETH and BTC: Insights from Hyperliquid Activity

On May 19th, COINOTAG reported insights from LookIntoChain, indicating a significant movement in the crypto market. A prominent trader, having realized profits exceeding $15 million on the platform Hyperliquid, is strategically shorting several key cryptocurrencies including ETH (Ethereum), BTC (Bitcoin), AVAX (Avalanche), SOL (Solana), and USDT (Tether). Notably, the trader’s short position for Bitcoin stands at approximately $4 million, while the Ethereum position is considerably larger at around $7.4 million. This whale, capitalizing on market volatility, has preemptively established 100 limit orders to execute short trades between $2,460 and $2,480 for ETH. Such tactical movements highlight the ongoing complexities in cryptocurrency trading and the necessity for investors to stay vigilant.