tl;dr
A major crypto whale opens a $122M Bitcoin short position via Hyperliquid, signaling skepticism about Bitcoin's short-term future. The move, paired with $540M in Bitcoin relocations, highlights institutional influence and market volatility.
**Massive Crypto Whale Opens $122 Million Bitcoin Short Bet via Hyperliquid, Moves $540M in Bitcoin**
A prominent crypto whale has taken a bold $122 million short position on Bitcoin via the decentralized exchange Hyperliquid, signaling further skepticism about the cryptocurrency’s near-term outlook. The move, revealed by tracking platform Arkham Intelligence, highlights the growing influence of large institutional players in shaping market dynamics.
The trader, who has previously cashed in $200 million by shorting Bitcoin during its recent slump to around $105,000, deployed $30 million in USDC to collateralize the bet. The short position uses 10x leverage, with an average entry price of $109,762 and a liquidation price set at $135,320. At the time of publishing, Bitcoin was trading at $109,544—a mere $218 below the entry price—suggesting the position is currently in the money but remains vulnerable to a price rebound.
This latest maneuver follows a broader strategic shift by the whale, who moved $540 million worth of Bitcoin to new wallets in the past week. Notably, $220 million was deposited into Coinbase, a move that could indicate preparation for future trades or a desire to diversify holdings. Arkham Intelligence also notes that the entity’s total assets exceed $4.8 billion, primarily held in Bitcoin and USDC.
The whale’s aggressive shorting strategy underscores the tension between bullish and bearish sentiment in the crypto market. While Bitcoin has shown resilience despite a 1.4% drop over the last 24 hours, the whale’s actions suggest a belief that the asset could face further pressure. The 10x leverage amplifies both potential gains and risks, as a rise in Bitcoin’s price to the liquidation threshold of $135,320 would trigger a forced closure of the position.
Analysts are closely watching how this high-stakes bet plays out, particularly as Bitcoin’s price remains volatile. The whale’s ability to capitalize on market swings highlights the growing sophistication of crypto traders, who increasingly use decentralized platforms to execute large-scale bets. As the market continues to evolve, such moves by whales could have ripple effects on investor confidence and price movements.
For now, the $122 million short position remains a critical focal point, reflecting the high-stakes game of speculation that defines the crypto space.