A whale on the Hyperliquid platform has made headlines by initiating a $450 million short position in Bitcoin, prompting a vigorous response from traders looking to counteract such actions.
Trading Operation Begins
According to Hypurrscan data, on March 17, the trader closed two positions through TWAP totaling 208 BTC at a price of $83,392, amounting to more than $18 million. To avoid liquidation, the trader added $7.5 million in collateral.
Community Reaction and Team Actions
@Cbb0fe on X gathered a team to hunt the whale who used 40x leverage. The team managed to raise Bitcoin's price above $84,690, forcing the whale to infuse additional funds to avoid liquidation.
Current Position and Platform Reaction
Currently, the trader has a short position of 5,167 BTC valued at $429 million. Hyperliquid has highlighted the whale's activities, noting that such public scrutiny is only possible on their platform.
Despite active attempts to liquidate, the whale continues to maintain its position thanks to strategic actions. The situation remains tense, with the crypto community's attention fixed on this story.
