Cerebras (CBRS) dived as much as 18% early Thursday after releasing its earnings report. Perp tracker TradingBeats, formerly Hyperinsight, shows two whale-sized shorts sat through the entire sell-off and booked a combined gain of roughly $3.65 million in one hour.
The contract fell from $261.81 to $224.64, an hourly drop of 14.2%, and the intraday maximum loss reached 18%. The report itself carried positive numbers, but CBRS had already climbed from around $195 to $263 in the days before the announcement, a near-35% run-up that may have priced in the good news. Once the numbers were out, the focus shifted to the company's low gross margin and profitability, which may not have matched the valuation built ahead of earnings.
Two whales held through the slide
Neither of the two largest short holders trimmed before the report. An address beginning 0x999 carried roughly $11.6 million in short contracts and logged about $1.98 million in gain within the first hour; its floating profit now sits near $1.35 million. Another address, starting with 0xe0f, held $9.73 million in shorts and gained about $1.66 million in the same stretch, with floating profit around $1.95 million. Combined, the two accounts added about $3.65 million.
No major long liquidation detected
On the long side, no big whale wipeout has been spotted. Between 4:00 and 4:30 a.m., 66 small CBRS liquidations hit 61 addresses, with notional value totaling roughly $389,000. The single largest one saw $105,000 liquidated, realizing a loss of about $6,908.
TradingBeats goes live
TradingBeats, a tool for perp and address analysis, is now available and allows real-time monitoring of Hyperliquid data, tracing moves from individual addresses up to whale operations.