Bitcoin continues to show sudden movements, prompting crypto whales to try and profit. One whale opened a multi-million dollar short position on Hyperliquid.
Unexpected Crypto Market Movements
Amid the current fluctuations in bitcoin's rate, crypto whales are actively opening short and long positions with substantial leverage to make profits.
Attempts to Liquidate Major Position
According to Lookonchain, the whale with address Cbb0fe opened a short position of over $445 million in BTC with 40x leverage. The liquidation price for this position was set at $86,000. A team attempted to liquidate the whale's position by pushing Bitcoin's price to $84,690, but they failed to drive it to the necessary level for liquidation. The whale added another 5 million USDC to protect his position from being liquidated.
Whale's Position and MELANIA Growth Expectations
While the whale expects a decline in Bitcoin's price, he simultaneously opened a 5x long position in MELANIA, anticipating growth in this memecoin. His current position is 5,406 BTC with an unrealized profit of $4.4 million.
In the volatile crypto market environment, whales continue to take significant risks by opening large leveraged positions, reflecting their confidence in their strategies and future market movements.
