Bitcoin whale places 40x leveraged $830 million long position on Hyperliquid
The post Bitcoin whale places 40x leveraged $830 million long position on Hyperliquid appeared on BitcoinEthereumNews.com. A crypto whale, James Wynn, has taken a bold stance on Bitcoin by opening a $830 million long position on Hyperliquid, the decentralized derivatives exchange. On May 21, on-chain analyst EmberCN revealed that Wynn initiated a 40x leveraged long position totaling 7,764 BTC (valued at approximately $830 million) at an entry price of $105,033. His liquidation level is reportedly set just below $100,330. This is one of the largest long positions ever recorded on the decentralized trading platform. EmberCN noted that Wynn partially reduced his total exposure to approximately $430 million within 90 minutes of entering the trade. This suggests the crypto whale might have begun taking profit, by offloading 3,688 BTC, worth around $400 million. However, his bullish conviction remains intact. EmberCN pointed out that Wynn began adding back to his long position immediately Bitcoin’s price began approaching his entry level again. Meanwhile, Wynn’s bullish conviction contrasts with broader market sentiment, where several large traders lean short. Joao Wedson, the founder of blockchain analytics platform Alphractal, has observed that whales are initiating short positions across multiple exchanges. Crypto Whales Bitcoin Bet. (Source: Alphractal) One notable example is Qwatio, who deposited $2.3 million USDC into Hyperliquid and opened a 40x leveraged short on 826 BTC. His position, valued at $88.36 million, had an entry price of $107,192 and a liquidation level of $108,500. Why is Wynn so bullish on Bitcoin right now? Wynn’s bullish bet on Bitcoin comes amid a broader wave of optimism surrounding the top crypto. Over the past day, BTC hit a high of $107,000, marking its highest price point since its all-time high in January. This break above the $106,000 resistance marks a significant shift, as the level has acted as a ceiling this year. Moreover, data from blockchain firm Sentora (formerly IntoTheBlock) reveals that 99%…
The post Bitcoin whale places 40x leveraged $830 million long position on Hyperliquid appeared on BitcoinEthereumNews.com.
A crypto whale, James Wynn, has taken a bold stance on Bitcoin by opening a $830 million long position on Hyperliquid, the decentralized derivatives exchange. On May 21, on-chain analyst EmberCN revealed that Wynn initiated a 40x leveraged long position totaling 7,764 BTC (valued at approximately $830 million) at an entry price of $105,033. His liquidation level is reportedly set just below $100,330. This is one of the largest long positions ever recorded on the decentralized trading platform. EmberCN noted that Wynn partially reduced his total exposure to approximately $430 million within 90 minutes of entering the trade. This suggests the crypto whale might have begun taking profit, by offloading 3,688 BTC, worth around $400 million. However, his bullish conviction remains intact. EmberCN pointed out that Wynn began adding back to his long position immediately Bitcoin’s price began approaching his entry level again. Meanwhile, Wynn’s bullish conviction contrasts with broader market sentiment, where several large traders lean short. Joao Wedson, the founder of blockchain analytics platform Alphractal, has observed that whales are initiating short positions across multiple exchanges. Crypto Whales Bitcoin Bet. (Source: Alphractal) One notable example is Qwatio, who deposited $2.3 million USDC into Hyperliquid and opened a 40x leveraged short on 826 BTC. His position, valued at $88.36 million, had an entry price of $107,192 and a liquidation level of $108,500. Why is Wynn so bullish on Bitcoin right now? Wynn’s bullish bet on Bitcoin comes amid a broader wave of optimism surrounding the top crypto. Over the past day, BTC hit a high of $107,000, marking its highest price point since its all-time high in January. This break above the $106,000 resistance marks a significant shift, as the level has acted as a ceiling this year. Moreover, data from blockchain firm Sentora (formerly IntoTheBlock) reveals that 99%…
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