Odaily Planet Daily reports, based on data from on-chain monitoring platform Onchain Lens, that a whale address has recently executed a series of high-risk trades in the crypto derivatives market. The whale first liquidated a HYPE long position, booking a loss of $2.047 million as the trade fell short of expectations.
Shortly after, the whale turned to Bitcoin, opening a short position on 682 BTC with a highly aggressive 40x leverage. However, the market moved against the bearish bet, and the position is now showing an unrealized loss of over $680,000. The use of 40x leverage dramatically amplifies even small market swings, subjecting the address to immense pressure amid adverse price action. Both leveraged trades have resulted in losses, putting the current strategy under severe strain.