9 hours ago
Bitcoin (BTC) has steadied since past Tuesday, bouncing to its 200-day mean supra $84,000 implicit the weekend. Still, a crypto whale has taken a contrarian stance by raising a leveraged bearish stake connected BTC worthy millions connected Hyperliquid portion betting bullish connected the MELANIA token.
As of writing, the whale held a abbreviated presumption successful BTC perpetual futures worthy implicit $445 million, generating an unrealized summation of $1.3 million. The presumption employed a 40x leverage and a liquidation terms of $86,000, according to information root Hyperliquid and Lookonchain.
The outsized abbreviated anticipating a bitcoin terms descent made waves connected societal media X connected Sunday arsenic pseudonymous trader CBB invited different marketplace participants for a consortium of bulls aimed astatine liquidating the whale.
"11 hours ago, @Cbb0fe publically formed a squad to hunt this whale who shorted $BTC with 40x leverage. Just 1 hr later, the squad was successful action, driving $BTC supra $84,690 successful a abbreviated period," blockchain sleuth Lookonchain said connected X.
"The whale was forced to deposit $5M USDC to summation borderline and debar liquidation. But the hunt yet failed," Lookonchain added.
As of writing, the crypto whale besides held a 5x leveraged agelong presumption successful the MELANIA perpetual futures, anticipating a terms emergence successful the memecoin reportedly marketed by MKT World LLC, a Florida-registered institution owned by Melania Trump, the woman of U.S. President Donald Trump.
Hyperliquid cheered the full occurrence connected X, saying the transparency of trading positions connected its level has redefined trading.
"When a whale shorts $450M+ BTC and wants a nationalist audience, it's lone imaginable connected Hyperliquid. When headlines accidental "Bitcoin Market connected Edge," they are equating "Hyperliquid" with the "market." Anyone tin photoshop a PNL screenshot. No 1 tin question a Hyperliquid position, conscionable similar nary 1 tin question a Bitcoin balance. The decentralized aboriginal is here," Hyperliquid said.
The level was successful the quality past week aft an influential whale executed the alleged "liquidation arbitrage" by extracting floating profits, starring to a borderline shortage. That induced liquidation and transferred the hazard to the decentralized exchange's HLP vault.
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