Whale Deposits $7M USDC on Hyperliquid to Short BTC & XRP

Published: 2025-11-06 22:27:28 |

A whale USDC deposit of $7M on Hyperliquid opened high-leverage short positions on BTC and XRP. The trader used 21.2× leverage on BTC, generating $110M in notional exposure, and shorted 8.88M XRP tokens. Bitcoin trades near $103,400, with liquidations set at $108,768. XRP is around $2.29, with a liquidation price of $2.80. Short positions now account for 49.2% of global crypto derivatives open interest. Over the past 24 hours, $322M was liquidated, including $37.8M on Hyperliquid. This USDC deposit and rising leverage reflect a bearish tilt in the market. Traders should monitor whale activity on Hyperliquid as a gauge of market pressure and potential volatility.

Bearish

This large USDC deposit and high-leverage shorting on Hyperliquid signal a strong bearish sentiment for BTC and XRP. In the short term, increased short positions and potential forced liquidations at set price points could drive further selling pressure and volatility. Over the longer term, if price rebounds trigger a squeeze, volatility may spike again, but current whale behavior points to downside risk.