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I saw that the largest long ETH trader on Hyperliquid is doubling down now. When ETH dropped to $1,950, this guy added another 5,000 ETH to his position. Now he's holding a total of 105,000 ETH, which is basically $205 million in exposure.
His average entry price was between $2,029 and $2.06k. With ETH oscillating around $2,060 now, he's sitting on an unrealized loss of about $10 million. I mean, this is the kind of move you see when someone truly believes it will recover. Either they have too much confidence or they know something we don't.