$20 Million in a Single Short: Bold Action by Whale Hyperliquid Shakes BTC Market
An anonymous whale on the decentralized derivatives platform Hyperliquid, with the wallet name kyoyo.eth, has captured the attention of the crypto world with a highly aggressive short position on Bitcoin ($BTC).
This skilled trader has taken a giant short position worth nearly $79 million using 7x leverage, betting the entire capital in their account. Remarkably, from this trade alone, kyoyo.eth has currently recorded an unrealized profit (PnL) of $19.7 million, bringing their total lifetime Profit/Loss (PnL) to $54.7 million.
High-Risk Bet
This strategy demonstrates extreme confidence that the price of Bitcoin will drop significantly. By using 7x leverage, even a slight adverse price movement (price $BTC increasing) can quickly trigger a liquidation that would wipe out all capital and existing profits.
Waiting for Closing Decision
The question now is: When will kyoyo.eth close this short position?
The closing decision (take profit) of such a whale is usually based on:
Key Support Levels: Closing the position when the price $BTC reaches a strong technical support level, where the potential for a price bounce upwards threatens their profits.
Risk/Reward Balance: After achieving a profit of $20 million, the risk of maintaining the position becomes much greater compared to the potential additional reward.
Macro Market Signals: Fundamental changes in market sentiment, such as U.S. economic data or large inflows into Bitcoin ETFs, can trigger a quick closure.
Kyoyo.eth's actions not only secure massive personal profits but also increase selling pressure in the market, with all eyes on the next move: will they secure their $20 million profit, or wait for a deeper dip to maximize profit before liquidation risks arise?
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