Elon Musk–Linked Wallet Opens $106M Hyperliquid ETH Short; BTC and SOL Shorts Set Take-Profit Bands
An on-chain analyst reported that address 0x94d…33814 — linked to Elon Musk — opened a large Hyperliquid ETH short totaling 36,281.29 ETH (~$106 million) at an entry price of $2,920.21 and currently showing an unrealized loss of about $521,000. The same wallet also opened a BTC short valued at $48.18 million and a SOL short worth $13.43 million. Traders set take-profit bands for these positions: BTC $86,250–$86,800; ETH $2,700–$2,900; SOL $121–$131.76. The wallet’s recent activity contributed to roughly $6.22 million in profits across the past week, indicating concentrated leveraged positioning. The report highlights growing leverage in ETH derivatives and concentrated bets that could increase near-term volatility across Ethereum, Bitcoin and Solana markets. Primary keywords: Elon Musk, ETH short, Hyperliquid, BTC short, SOL short. Secondary/semantic keywords included: on-chain, leverage, take-profit bands, derivatives, market volatility.
Neutral
The news is classified as neutral because it reports concentrated, leveraged short positions by a high-profile-linked wallet rather than a broader market-moving fundamental shift. Large Hyperliquid shorts in ETH ($106M), BTC ($48.18M) and SOL ($13.43M) increase the risk of near-term price pressure and volatility, particularly around the reported take-profit bands (BTC $86,250–$86,800; ETH $2,700–$2,900; SOL $121–$131.76). However, the positions are single-address, and liquidations or profit-taking could both amplify moves in either direction. Short-term implications: heightened volatility and potential cascading liquidations if price breaches leverage-sensitive bands; traders should watch order-book liquidity, funding rates, and Hyperliquid open interest. Long-term implications: unless other large market participants mirror or offset these concentrated bets, the impact is likely transient — reflecting derivatives activity rather than a structural shift in fundamentals. Historical parallels: large concentrated derivatives bets (e.g., 2020–2022 DeFi/leveraged positions) have often produced sharp short-term moves and squeezes but rarely changed multi-month trends unless accompanied by broader on-chain or macro signals. Actionable trader takeaways: monitor ETH/BTC/SOL funding rates, key take-profit and liquidation levels, and on-chain flows on Hyperliquid; size positions conservatively and use risk controls (stop-loss, reduced leverage) given elevated short-term tail-risk.