Bitcoin OG Increases Ethereum Long to $392.5M on Hyperliquid
An early Bitcoin investor known as “1011short” expanded an Ethereum long position to 120,094 ETH (approximately $392.5 million) on the Hyperliquid exchange, according to Lookonchain. The position’s liquidation price is set at $2,234 per ETH, roughly 32% below the prevailing market price at the time of reporting. The trader has actively increased Ethereum exposure in recent months, signaling confidence in renewed upward momentum. At press time ETH traded near $3,260 after a daily high around $3,400; prices dipped following the Federal Reserve’s 25-basis-point rate cut, which analysts partly attribute to a sell-the-news reaction. Key keywords: Ethereum long, Hyperliquid, liquidation price, leveraged position, 120,094 ETH.
Bullish
A large, visible leveraged long — 120,094 ETH (~$392.5M) — from a known trader increases bullish sentiment by signaling conviction in Ethereum’s upside. The position itself can amplify price movements: buying pressure may push ETH higher, while the sizeable liquidation threshold ($2,234) is well below current prices, reducing near-term forced-sell risk unless a deep drop occurs. The trade coupled with recent Fed rate cuts suggests traders are positioning for risk-on behavior. Historically, high-profile leveraged longs (or concentrated whale longs) have preceded short-term rallies as momentum traders pile in, but they also raise volatility risk if sentiment reverses; a rapid decline toward the liquidation price could trigger cascading liquidations and sharp downward moves. Short-term impact: likely bullish momentum and increased intraday volatility as market participants front-run or hedge the position. Long-term impact: limited direct effect — fundamentals (network activity, upgrades, macro rates) will govern sustained trends — but repeated large leverage bets can attract retail participation and amplify cycle dynamics.