According to previous reports by Zombit, the high-leverage whale on Hyperliquid slowly closed its short positions through TWAP orders yesterday. Just when the market thought it was about to reverse, after closing 500 Bitcoin short positions, the whale chose to terminate the TWAP orders and instead fully committed to increasing its position, shorting Bitcoin with a high leverage of 40 times.
According to on-chain analyst Yu Jin, the current position is the largest he has ever opened, amounting to as much as $520 million. Yu Jin pointed out: “For this position, he transferred a total of 16.75 million USDC into Hyperliquid as collateral. This is all the funds in his address (several million U in principal + over ten million U in profits earned in the last month).”
Data from Hyperscan shows that the average cost of his short positions is approximately $83,898, with a liquidation price of $85,561, and as of the time of writing, the unrealized profit is approximately $3.92 million.
