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Whales Navigate Market Pullback: ETH Short Unwinding vs. Contrarian BTC Short Doubling Down
BlockBeats reported on August 15 that Hyperliquid’s large traders are making divergent moves amid today’s market correction. The on-chain intelligence platform HyperInsight has identified a notable split in whale behavior across major assets.
ETH Positions Under Pressure
A major wallet (0x7fdaf) has been progressively closing ETH short exposure, offloading 1.66 million USD and 7.79 million USD in consecutive 6-hour windows. Despite the tactical reduction, the position remains underwater with cumulative losses hitting 5.27 million USD. The whale’s liquidation threshold sits at 7,304 USD, indicating thin margin buffer as the market oscillates.
BTC Shorts Defying Market Signals
In a contrarian move, another significant trader (0x5d2f4) is doubling down on bearish Bitcoin bets, adding 853,000 USD to existing BTC short positions despite the bleeding. This whale shorts holder is nursing a substantial 9.02 million USD loss, yet continues to increase exposure—a signal of conviction or potential over-leveraging. Their liquidation price stands at 127,873 USD.
Mixed Signals from Another Major Trader
Meanwhile, the 0x5648A address is trimming ETH long exposure by reducing holdings by 830 coins (valued around 3.95 million USD). Unlike the heavily underwater trades elsewhere, this position remains nearly neutral with only 44,600 USD in losses, affording more flexibility with a liquidation level at 4,091 USD.
The divergent strategies highlight how major capital is reassessing risk exposure during market volatility. While some whales are cutting losses, others appear committed to their bearish thesis despite mounting drawdowns.