🚨 A whale has bet $450 million on a short position on Hyperliquid! It’s currently sitting on over $30 million in unrealized profits, with BTC and ETH among its targets!
On November 8, according to on-chain monitoring, an address linked to Abraxas Capital had open positions on Hyperliquid with a notional value of approximately $451.85 million. Short positions accounted for as much as $451.68 million, with current unrealized profits of about $30.77 million.
Looking at the position breakdown, the address is mainly shorting BTC, HYPE, ETH, and ZEC. Its BTC short is worth about $158.66 million, its HYPE short about $77.6 million, its ETH short about $75.27 million, and its ZEC short about $63.51 million.
Put simply, this isn’t a small probing trade—it’s a sizable bearish bet. But keep in mind that the over $30 million is only an unrealized profit; it doesn’t mean the gains have been locked in. If the market suddenly rebounds, short sellers could also face massive losses or even be forced to close their positions. What’s worth watching next is whether this whale continues to add to its position, and whether a wave of forced closures occurs if prices rise. Whale bets can be worth watching, but don’t blindly copy their trades! 📉
On November 8, according to on-chain monitoring, an address linked to Abraxas Capital had open positions on Hyperliquid with a notional value of approximately $451.85 million. Short positions accounted for as much as $451.68 million, with current unrealized profits of about $30.77 million.
Looking at the position breakdown, the address is mainly shorting BTC, HYPE, ETH, and ZEC. Its BTC short is worth about $158.66 million, its HYPE short about $77.6 million, its ETH short about $75.27 million, and its ZEC short about $63.51 million.
Put simply, this isn’t a small probing trade—it’s a sizable bearish bet. But keep in mind that the over $30 million is only an unrealized profit; it doesn’t mean the gains have been locked in. If the market suddenly rebounds, short sellers could also face massive losses or even be forced to close their positions. What’s worth watching next is whether this whale continues to add to its position, and whether a wave of forced closures occurs if prices rise. Whale bets can be worth watching, but don’t blindly copy their trades! 📉
