According to a report by The Block on May 25th, a cryptocurrency whale investor on the Hyperliquid platform, James Wynn, changed a $1 billion Bitcoin position from long to short. The specific situation is as follows:
Operation process: Blockchain data shows that James Wynn closed a leveraged long position of Bitcoin worth 1.2 billion US dollars on Saturday, with a loss of more than 17.5 million US dollars. Then on Sunday, he opened a new short position worth over $1 billion, using 40 times leverage and his entire wallet worth nearly $50 million as margin.
Current situation: Wynn opened a short position at an average entry price of $107,077 and has made a profit of $3 million so far. If the price of Bitcoin rises to $110,446 and Wynn does not add more collateral, her current position will be liquidated.
Furthermore, there was an unidentified whale, “qwa tio”, who deposited $2.3 million of USDC into Hyperliquid around May 21st and opened a 40-times leveraged short position of 826 Bitcoins at a price of $105,168, valued at approximately $1 billion. Its liquidation price is estimated at $106,600. As of May 25th, the price of Bitcoin was $104,885, and the transaction was in an unstable state.
The short selling operation of this giant whale reveals the market’s divergence on the future trend of cryptocurrencies, which may have a certain impact on market sentiment and price trends.
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