Hyperliquid Whale’s $496M 10x Leveraged Bitcoin Short
Over the past two days, a Hyperliquid whale increased its Bitcoin short to $496 million at 10x leverage, doubling a previous $163 million position. Hypurrscan data pins the liquidation price at $124,270 per BTC. This Bitcoin short was opened before the Trump tariff announcement, fueling speculation of insider knowledge.
The whale pocketed $192 million during last week’s crash and holds about $900 million in combined BTC and ETH shorts. Researchers tied the wallet to ex-BitForex CEO Garrett Jin, who denies ownership. This aggressive Bitcoin short underscores bearish market sentiment and raises the risk of volatile squeezes. Traders should watch funding rates and open interest for early squeeze signals.
Bearish
The large 10x leveraged Bitcoin short by a single whale increases downside pressure on BTC, signaling bearish sentiment. The sizeable position magnifies liquidation risk near the $124,270 level, potentially triggering cascade sell-offs and squeezes. In the short term, funding rates may spike, and open interest could lead to high volatility. Long-term impact remains cautious, as such large leveraged positions can both amplify market moves and serve as targets for counter-trades when BTC approaches the liquidation price.