Whale Sells $20M BTC Spot to Open $122M Short Position on Hyperliquid

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Whale activity trading on Hyperliquid saw a major move as a whale with address 0x94d sold $20M in BTC spot on December 19 and used the funds to open 10x leveraged BTC and ETH short positions. By December 22, the short positions totaled $122M, making it the largest BTC short whale on the platform. The BTC short is $120M at $87,300 average price, with a -10% floating loss and liquidation at $101,000. The ETH short is $2.14M at $2,920, with a -25% loss. On-chain trading signals show aggressive bearish positioning.
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