Whale opens $400 million short position on Bitcoin
Hyperliquid whale opens $423M Bitcoin short, sparking market-wide attention.
A whale wallet on Hyperliquid executed a high-leverage trade by opening a 40x leveraged short position on Bitcoin worth over $423 million, with a tight liquidation price set at $86,198.
The trade, initiated by wallet 0xf3F496C9486BE5924a93D67e98298733Bb47057c, has already generated over $2 million in profit and sparked widespread discussion among market participants, reports BeInCrypto.
Public ‘Whale Hunt’ Intensifies
Following the massive position, an X user known as CBB called for a coordinated effort to “hunt” the whale by driving Bitcoin’s price higher, inviting others—including reportedly Justin Sun and Eric Trump—to join the hunt.
The aggressive strategy, aimed at triggering a short squeeze, has drawn significant attention as traders scrutinize whether the maneuver is linked to illicit activities, with some experts even speculating potential ties to North Korean hackers.
Market Dynamics and Decentralized Transparency
A Kaiko report noted that Bitcoin’s 1% market depth is roughly $300 million, implying that even a 1% price move could require substantial capital injection. CryptoVikings further analyzed the situation, suggesting that the Hyperliquid whale might be simultaneously shorting on the DEX and going long on centralized exchanges, a strategy designed to trigger liquidations and profit from subsequent price swings.
In response, Hyperliquid hailed the event as a milestone for decentralized trading transparency, asserting that such public trading activity exemplifies the future of crypto markets where anyone can verify positions and performance without relying on manipulated screenshots.
Recently we wrote, that Bitcoin price has attempted multiple rallies above the March opening price of $84,400 over the past five days but has failed to hold above this level.
