Whale Closes HYPE Long at $2.047M Loss, Shorts BTC at 40x Leverage and Now Underwater Over $680K

News Editor

2026-06-04 15:18:32

Onchain Lens tracked a whale who closed a HYPE long position at a $2.047 million loss, then opened a 682 BTC short with 40x leverage. The short is currently floating over $680K in the red, bringing total losses past $2.72 million.

whaleHYPEBTCshortleverageOnchain Lens

Onchain Lens monitoring has revealed a whale trader who exited a HYPE long position at a loss of $2.047 million and immediately flipped to the short side, opening a 682 BTC short position with 40x leverage. Such extreme leverage means that even minor market movements can lead to outsized gains or losses.

The market did not cooperate, however, and the BTC short quickly went underwater. The unrealized loss on the position has now surpassed $680,000. Combined with the earlier HYPE long loss, the whale's total deficit exceeds $2.72 million in a very short window.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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