This afternoon, there was an interesting trading signal. A major whale closed a $15.53 million ETH long position at 16:37. Although this move resulted in a loss of $616,000, it doesn't seem like they completely exited the market. Instead, they turned around and continued to bet with 2x leverage, currently holding 685,219.52 HYPE tokens, with a position size of about $17.5 million, and an unrealized loss of $481,000.

The interesting point about this operation is that the whale switched from ETH to HYPE, which appears to be an adjustment of risk exposure. The loss from closing the position might be a stop-loss consideration, but they immediately established a new position with roughly the same size, clearly still optimistic about the market trend. Such rapid switching between different tokens by large traders is usually worth noting for small and medium investors — at least it can reflect the current main force's sentiment shift.