Hyperliquid Whale Reopens Massive $9.9 Million Ethereum Short

A former trader with a 100% win rate on the Hyperliquid platform is making headlines once again. This infamous Hyperliquid whale has opened a substantial Ethereum short position worth $9.9 million, utilizing an aggressive 25x leverage. This move comes amidst growing uncertainty in the crypto markets, where price swings have become sharper and trader sentiment has become divided.

Over the last few weeks, Ethereum's price action has been choppy, fluctuating between bullish optimism and bearish corrections. With whales repositioning their portfolios, traders are paying close attention to the signals. The whale in question, known for their stellar timing and ability to exit positions profitably, has garnered significant discussion on X (formerly Twitter) and other trading channels.

The decision to open such a high-stakes leverage trading position signals either strong conviction or a calculated risk approach in anticipation of a sharp market correction. This has sparked debates within the crypto community, with many asking, 'Does this whale know something others don’t?' The position’s scale—$9.9 million with 25x leverage—shows the trader’s faith in a potential ETH price drop.

This trader gained widespread attention earlier this year for successfully timing multiple short positions on major crypto assets. With a reported 100% win rate on Hyperliquid, their wallet address is closely monitored by analysts. This latest short position further reflects their belief in downside potential for Ethereum. Hyperliquid, a decentralized perpetual exchange, is now seen as a hotspot for high-leverage trading. On-chain data shows that this whale has consistently managed multi-million-dollar positions and exited trades before major market corrections.

The timing of this position is critical, as it precedes key macroeconomic events and coincides with Ethereum's growing on-chain congestion. Technical indicators suggest potential downside, with ETH struggling to maintain key support levels near $3,000. Additionally, network fees are climbing again, and on-chain activity has cooled since mid-year highs. A 25x leverage trade amplifies risk but also offers significant profit potential for even small downward price movements—though it also increases the risk of liquidation if the market moves against the trade.

The return of this high-profile trader sheds light on the influence of whale activity in the crypto markets. High-leverage bets like these can inspire copy trades, leading to further selling pressure. Retail traders often interpret whale shorts as smart-money signals, indicating possible future price corrections. Ethereum remains in a pivotal range, with bulls and bears testing key levels. Experts emphasize the importance of risk management, as retail traders should avoid emotional decisions while navigating rising volatility.