Crypto Whale Holds $445M Short Position on Bitcoin and Long on MELANIA
Bitcoin (BTC) has stabilized above $84,000, with a notable crypto whale taking a bearish position worth over $445 million on Hyperliquid. Key points include:
- Whale holds a short position in BTC perpetual futures with 40x leverage and a liquidation price of $86,000
- Current unrealized gain from the short position is $1.3 million
- A trader formed a group to counteract the whale's position, briefly driving BTC above $84,690
- The whale deposited $5 million USDC to avoid liquidation, but the group's efforts ultimately failed
- In addition, the whale holds a 5x leveraged long position in the MELANIA token
Hyperliquid commented on the incident, highlighting the transparency of its trading platform and its role in the market dynamics.