A significant cryptocurrency trader known as the ‘Triple Cycle ETH 100% Win Rate Whale’ has opened a substantial leveraged short position targeting Ethereum.
The whale funded the position by transferring 5 million USDC to the Hyperliquid exchange and initiated a short on 21,900 ETH using 25x leverage.
The total value of the short position exceeds $61 million, with an entry price recorded at $2,780 per ETH. Liquidation would occur if Ethereum’s price rises to approximately $2,948.
This large-scale, high-leverage move underscores the inherent volatility in the Ethereum market and highlights the prevalence of aggressive trading strategies employed by major participants.
The size and leverage involved emphasize the significant risks and the critical importance of strict risk management protocols for participants in the cryptocurrency derivatives space.