A certain whale user is heavily shorting mainstream cryptocurrencies on the Hyperliquid platform. According to on-chain data, this address is currently the top BTC short seller and the third-largest ETH short seller.

Specifically, it holds a short position of 1,073.5 BTC, using 40x leverage, with a total exposure of $99.43 million, and an average opening price of $92,469; at the same time, this address has also established an ETH short position worth $99.14 million, involving 31,093 ETH, with 25x leverage, and an average opening price of $3,269.91.

Notably, as of now, the overall floating profit and loss of this large short position has reached $2.156 million. This short bet, valued at around $200 million, indicates that major players hold a clear bearish outlook on the short-term market trend. In the current volatile market environment, the position changes of such whales often serve as important market sentiment indicators.