Whale Closes HYPE Long at $2.047M Loss, Shorts 682 BTC with Floating Loss Over $680K

News Editor

2026-06-04 15:18:32

Onchain Lens data shows a whale closed a HYPE long position at a loss of $2.047 million, then opened a 40x leveraged short of 682 BTC, now facing over $680K in unrealized losses.

whaleHYPEBTCshort positionlossleverage

According to on-chain monitoring by Onchain Lens, a whale recently exited a HYPE long position, realizing a loss of approximately $2.047 million. Immediately afterward, the same address established a short position on 682 Bitcoin (BTC) with 40x leverage. At the time of reporting, this short had an unrealized loss exceeding $680,000.

HYPE is the native token of the decentralized derivatives trading protocol Hyperliquid. The rapid turnover of large leveraged positions often draws attention within the on-chain community, but the final outcome hinges on subsequent price movements. With both trades currently underwater, the case highlights the two-way risks inherent in high-leverage trading.

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

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