Whales Open $176M Leveraged ETH Shorts on Hyperliquid

Published: 2025-07-11 16:28:37 |

Since July 11, traders have opened over $176M in leveraged ETH shorts on Hyperliquid. On July 11, a whale used 3.25M USDC to open a 25× short on 11,241 ETH (~$33M) with a liquidation threshold near $3,135. The next day, three major wallets placed additional 15× and 25× shorts on 48,458 ETH (~$143M). These large ETH shorts underscore growing bearish sentiment, elevated market volatility and the risk of rapid liquidations. Crypto traders should monitor whale activity, leverage levels and liquidation prices to manage risk in Ethereum derivatives markets.

Bearish

Large leveraged ETH shorts totalling over $176M signal strong bearish pressure on Ethereum. The high leverage (15×–25×) and substantial notional exposure increase the likelihood of swift liquidations, which can accelerate price declines in the short term. Traders may face intensified volatility around key liquidation levels (e.g., $3,135). In the long term, if these positions unwind, rebound rallies could occur, but the immediate impact is likely downward. This makes the overall price outlook bearish.