Crypto Whale Shorts $420 Million in Bitcoin on Hyperliquid
A large crypto whale has shorted $420 million worth of Bitcoin (BTC) on Hyperliquid. This move coincides with recent selling pressure on BTC after it reached a new all-time high of $126,198 on October 6, 2025.
According to Arkham, a blockchain data platform, the whale used $80 million in USDC as margin and applied 6x leverage to open the short position. The whale also transferred $50 million to Binance, possibly for similar trading or hedging purposes.
Previous BTC Sale and Current Position
Lookonchain, another on-chain data tracker, reported that the same whale sold 3,000 BTC for $363.87 million two days before opening the short. The current short position involves 3,477 BTC, valued at $419 million, with a liquidation price of $140,660 per BTC.
The whale’s activity suggests an expectation of a significant decline in Bitcoin’s price in the near term.
Bitcoin Price Drops Below $120,000
Following the whale’s trade disclosure, Bitcoin’s price fell below $120,000. It dropped from a daily high of $123,614 to around $120,300, according to CoinMarketCap. The 24-hour trading volume stands at $71.26 billion.
Data from Hypurrscan, an on-chain explorer for Hyperliquid, shows the whale is currently $660,000 in profit. The liquidation price remains at $140,660 per BTC.
The crypto community has reacted with mixed opinions. Some traders wonder if the whale is managing positions across multiple accounts. Others believe the strategy might be more complex than it appears. Market watchers are closely monitoring Bitcoin’s next moves amid this high-leverage trade.
This event highlights the growing impact of large investors on crypto markets. It may also attract increased regulatory attention as the market awaits further developments.
