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Interesting on-chain movements. A recent whale operation has attracted attention—this large holder injected 5 million USDC into HyperLiquid, then directly used 3x leverage to go long on BTC. This position alone is worth $11 million, and they are still adding more. In just these 5 hours, the same whale spent another $4.84 million to buy up, acquiring a total of 180,004 HYPE. The pace of this operation is quite fast, suggesting they are betting on BTC going up while also showing strong confidence in the HyperLiquid ecosystem. Large capital movements often reflect market participants' true outlook on the future, so it’s worth watching how this develops.