Hyperliquid Market Snapshot: Whales Diverge on Ethereum While Bitcoin Short Holders Double Down Despite Losses

As the market experiences a pullback on August 15, major traders on Hyperliquid are making contrasting bets. According to HyperInsight tracking, whales are repositioning their portfolios with notably different strategies—some taking losses to exit positions while others aggressively increase bets against the current market direction.

Ethereum Sellers Taking Profits Off the Table

The 0x7fdaf whale has been systematically trimming its Ethereum short exposure, cutting back by 1.66 million USD and 7.79 million USD within the past 6 hours. This significant unwind leaves the address sitting on unrealized losses of approximately 5.27 million USD, with its liquidation threshold set at 7,304 USD. The behavior suggests that major players are reassessing their bearish stance on ETH (approximately 9 ETH worth of position adjustments observed in similar moves), possibly preparing for a potential recovery.

Bitcoin Shorts Swimming Upstream

In stark contrast, the 0x5d2f4 whale is moving in the opposite direction, increasing its Bitcoin short position by adding 853,000 USD despite mounting losses. This address is currently underwater by 9.02 million USD, with a liquidation price at 127,873 USD. The decision to add to a losing position signals conviction in further downside—a bold but high-risk maneuver that bets against today’s market sentiment.

Ethereum Longs Making a Modest Retreat

Meanwhile, the 0x5648A whale is trimming its long exposure on Ethereum, reducing its position by approximately 830 coins (worth roughly 3.95 million USD at current levels). Despite this pullback, losses remain minimal at 44,600 USD, with a liquidation floor positioned at 4,091 USD, indicating a relatively conservative leverage use.

The divergence in whale positioning—some de-risking while others double down—highlights the ongoing debate among sophisticated traders about the market’s direction in the near term.