On Hyperliquid, the most hard-to-kill short seller has appeared. Address 0xb83de012dba672c76a7dbbbf3e459cb59d7d6e36, with account value of $120 million. There are 17 positions, all of them shorts. The total size is $563 million—equivalent to risking 4.7 times one’s net worth betting on a drop.

And just as the market is rising across the board, he’s sitting on an unrealized loss of $98.44 million, with 80% of his balance wiped out on paper.

The main fund is short ETH: 77,600 ETH short positions, opened at an average price of $2,337.95, with the current price at $2,773. The unrealized loss per position is $34.15 million, and the loss has eaten 94% of the margin. For the BTC short position of 1,751 BTC, opened at $74,443, the unrealized loss is $22.19 million. The HYPE shorts are even worse: the unrealized loss is $21.98 million—more than twice the opening margin. Shorts in ZEC, SOL, XRP, and others are also bleeding.

This account has had 84 trades executed, and in history it has never been liquidated. It goes all-in on a multi-coin diversified position, pushing the liquidation price far away: ETH needs to rise to $4,162 to trigger liquidation—50% higher than the current price. That’s the confidence he has to keep holding.

Ironically, today the whole market is liquidating shorts: in the past 4 hours, $54.13 million was liquidated, with 86% being short positions. He is the biggest target in this move, but so far none of the 17 short orders have been cleared. With a $120 million account, how deep of a rebound can he still withstand?

Do you think he eventually holds back and comes through, or gives up and exits?

Check in real time: https://www.coinboss.com/zh/hyperliquid-whale/0xb83de012dba672c76a7dbbbf3e459cb59d7d6e36

#Hyperliquid #以太坊 #空单 $ETH $BTC