A prominent cryptocurrency trader identified as ‘smart money’ has executed a dramatic shift in market positioning, closing their Ethereum long and opening a $3.86 million short position with 25x leverage through perpetual futures on Hyperliquid. The short was initiated at an entry price of $2,518 per ETH.
Simultaneously, the trader maintains a $6.94 million Bitcoin long position utilizing 40x leverage, signaling a divergent strategy between the two largest cryptocurrencies. This leveraged approach substantially amplifies both potential profits and associated risks.
The trading account shows exceptional performance metrics, having generated $38.42 million in cumulative profit to date through Hyperliquid. Recent activity yielded $664,000 in gains over the past week, highlighting sustained profitability despite the aggressive leverage employed across both positions.