A Whale on Hyperliquid Shorts 6,210 BTC with 40x Leverage, Making $9.4 Million in 8 Days
A high-profile crypto investor made a spectacular profit of $9.4 million in just eight days by shorting 6,210 BTC, equivalent to $516 million, with 40x leverage. This high-risk position bet on a decline in Bitcoin, a strategic anticipation ahead of the key Federal Open Market Committee (FOMC) meeting scheduled for this week.
A New Massive Leverage Position for the Hyperliquid Whale
A new massive profit-making opportunity arose as the famous Hyperliquid trader/whale generated a significant profit from their $433 million Bitcoin short. Currently up $1 million, the liquidation price is set at $86,063. While many traders claim to be hunting them down, the question remains: will they come out on top again?
The whale initially opened their position at $84,043 and risked liquidation if Bitcoin exceeded $85,592. To maintain the bet, they had to inject an additional $5 million as a group of traders attempted to force the liquidation of their short. Despite this pressure, they managed to close their position with a substantial net profit.
Perfect Timing in the Face of Economic Indicators
The whale closed their trade after the release of the February Consumer Price Index (CPI) figures in the United States. The annual inflation turned out to be slightly lower than expected, showing 2.8% compared to the predicted 2.9%. This macroeconomic signal reinforced investor optimism by reducing fears of aggressive monetary tightening from the Fed, thus positively influencing BTC.
This decline in inflationary pressures could indeed lead the Federal Reserve to adjust their policy, which would favor risk assets like Bitcoin.
The market still expects the Fed to maintain interest rates with a 99% probability, according to the FedWatch tool by the CME Group.
A Malicious Actor Behind the Hyperliquid Trader?
The renowned on-chain investigator, ZachXBT, shared his thoughts on X (formerly Twitter) regarding this whale that has been shaking the network with their impressive trades for several days. According to Zach, it is simply a ‘cybercriminal playing with stolen funds.’ Far from suspicions of insider trading, this whale is actually a malicious actor taking bold positions on the current DEX, unafraid to push the leverage.
When asked if they are a member of the North Korean hacker group, Lazarus, ZachXBT responded negatively.
