Hyperliquid data indicates that the whale wallet is significantly short on $ETH .
The address holds 10,032.42 ETH short (approximately $34.12 million notional), making it one of the largest bearish positions on Hyperliquid according to TokenPost tracking.
This position was initiated at an entry point of $3,562, with the current mark price around $3,450, reflecting active management amid market declines.
Previously, this wallet was noted for holding 15,182.44 $ETH ($40.91 million) short, showing approximately $50,000 in unrealized profit at a price of $2,694.50.
The wallet has a pattern of entering and exiting positions, including closing 7,456.49 ETH ($20.17 million) earlier this week while maintaining core short holdings.
Funding remains negative at -0.0123%, indicating that shorts are incurring costs to longs, yet the whale continues to add to its position.
The liquidation point is significantly distant at approximately $3,821.50, allowing for further bearish bets. When combined with $BTC shorts, the wallet has held up to $128 million in short positions at times.
The current scenario raises the question of whether this represents a strategic move by savvy investors or a potential squeeze trap.
If ETH falls below the $3,460 support level, bearish momentum would be confirmed. Should the price drop below $3,400, the next target would be $3,380. Monitoring the funding rates will be crucial.
#ETH #BTC #Liquidations
The address holds 10,032.42 ETH short (approximately $34.12 million notional), making it one of the largest bearish positions on Hyperliquid according to TokenPost tracking.
This position was initiated at an entry point of $3,562, with the current mark price around $3,450, reflecting active management amid market declines.
Previously, this wallet was noted for holding 15,182.44 $ETH ($40.91 million) short, showing approximately $50,000 in unrealized profit at a price of $2,694.50.
The wallet has a pattern of entering and exiting positions, including closing 7,456.49 ETH ($20.17 million) earlier this week while maintaining core short holdings.
Funding remains negative at -0.0123%, indicating that shorts are incurring costs to longs, yet the whale continues to add to its position.
The liquidation point is significantly distant at approximately $3,821.50, allowing for further bearish bets. When combined with $BTC shorts, the wallet has held up to $128 million in short positions at times.
The current scenario raises the question of whether this represents a strategic move by savvy investors or a potential squeeze trap.
If ETH falls below the $3,460 support level, bearish momentum would be confirmed. Should the price drop below $3,400, the next target would be $3,380. Monitoring the funding rates will be crucial.
#ETH #BTC #Liquidations