🚀 Hyperliquid Whale Goes Bearish with $1B BTC Short!

A crypto trader using the alias 'moonpig' on Hyperliquid has initiated one of the largest short positions on Bitcoin ever recorded. After ending a long position worth $1.2 billion, he put almost $50 million as collateral to short $1 billion in BTC, leveraging 40x. This bold move comes after he reduced his profit by $17.5 million. Wynn previously expected Bitcoin to hit $110,000 but acknowledged modest price increases instead. Currently, the short position is favorable for Wynn with a gain of $3 million so far. However, the risk remains if BTC rises to $110,446. Despite these events, his cumulative profit on Hyperliquid exceeds $40 million. The open interest and HYPE token prices have surged, reflecting the platform’s dynamic market.