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🔥 A whale deploys a $53 million “Long BTC, Short HYPE” position, and during this round of HYPE’s rebound, it loses $900,000 in Japan and China
According to Hyperinsight monitoring, the on-chain whale recently deployed a “Long BTC, Short HYPE” position with a scale of about $53 million, including a $30.4 million long BTC position (40x leverage) and a $23.2 million short HYPE position (5x leverage). This position was established on March 20, and since the initial build, it has incurred a net loss of about $300,000. Today, HYPE is trading above $40; the intraday gain is over 5%, causing the funds in this combination to withdraw by as much as $900,000 during the day. Previously, the same whale had built a position with a similar logic, going long BTC with a scale of about $50 million while shorting ETH, XR…
#btc #hype #eth #xrp #ada