2025-12-30 02:07:03

A major trader's recent actions are quite interesting. This address opened a significant short position yesterday around this time—while ETH was on the rise, they chose to take a contrarian approach. Currently, their ETH short position on Hyperliquid has become the second largest on the platform, holding 36,281.29 ETH, worth approximately $106 million.

However, the current status of this trade is a bit awkward. The entry price was $2,920.21, and it is now floating at a loss of $521,000. It seems they missed the boat, as the recent ETH rebound has been quite painful for them.

In addition to this main ETH position, the trader has also set up positions in other directions. The BTC short position amounts to $48.18 million, and the SOL short is $13.43 million. This comprehensive short positioning indicates they have a fairly clear view of the market’s short-term trend—that is, they are bearish.

However, the market is clearly not following their script; bullish sentiment is still ongoing. How it will unfold next depends on whether they choose to hold on stubbornly or look for opportunities to cut losses. Such large positions' fluctuations often also reflect differing expectations among market participants about the future trend.

ETH2,34%

BTC1,6%

SOL1,24%

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SingleForYears

· 12h ago

Ah, losing 520,000 and still holding on? I really admire this guy's mental toughness. Damn, the full-scale short was beaten down by the bulls; this is a typical case of betting on the right direction but not the right timing. If this big player liquidates to cut losses, it would be a huge loss; holding on means taking more hits, it's tough. Uh... if they reverse their operation, wouldn't it be a guaranteed profit? LOL, someone always gets taught a lesson by the market. Having 100 million USD dancing at your fingertips, the thrill is truly at its peak.

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ProxyCollector

· 12h ago

Oh man, this guy is really throwing a tantrum. Holding on to a floating loss of 520,000. I think he's either very clever or a true warrior.

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DaoResearcher

· 12h ago

According to on-chain data analysis, this large holder's position allocation indeed shows a clear Token Weighted shorting bias, but from a game theory perspective, there are obvious flaws in its stop-loss mechanism design. It is worth noting that, following the incentive compatibility principle of decentralized governance, this unilateral bet against market sentiment essentially violates the equilibrium assumptions of market microstructure.

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GraphGuru

· 13h ago

Ha, another big player betting against the trend, over 5 million just gone. This guy chose the wrong direction, ETH is still soaring, yet he dares to go all-in on a short position. What's he thinking? Over 100 million in floating loss, just thinking about it hurts. If he can't hold on much longer, he'll have to cut his losses. This bullish wave is so fierce that even the big players can't withstand it. Over 36,000 ETH. If it gets pushed even higher, liquidation countdown begins.

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TokenomicsShaman

· 13h ago

Oh man, this guy really went all-in on a short position, now he's being hammered down by the bulls. Betting against the entire market and missing out on this move, he's definitely looking a bit awkward. $520,000 floating loss, just wonder how much longer he can hold on. Taking such a big short position, he's either a genius or a fool, and right now it looks more like the latter. ETH's rebound this time really didn't leave him any room to breathe, probably affecting his sleep quality. A comprehensive short setup, very bearish, but the market just isn't cooperating. Stop-loss or hold on tight, now it all depends on this big player's mental resilience. This moment really tests people; either buy the dip or exit, the middle path is the hardest to walk.

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