BTC/HYPE exchange rate surged significantly within 24 hours, as a long whale who entered at this rate recouped 900k US dollars.

ME News message, April 20 (UTC+8): according to Hyperinsight monitoring, the HYPE price fell 6.3% intraday, and the BTC/HYPE exchange rate rose 7% over the past 24 hours; it is currently 1821. On Hyperliquid, a whale that is heavily long this exchange rate, with the strategy described as “long BTC is more resilient than altcoins,” earned a daily profit of $900k. This address currently holds: a BTC long position (40x leverage): size of $31.4 million, average price of $70,557; a HYPE short position (5x leverage): size of $22.58 million, average price of $38.93. During the previous round of HYPE’s big rally, this address began deploying positions, and completed building its entire position on March 20, with a total size of more than $53 million—likely aiming to bet on the market’s overall downside, with HYPE falling more than BTC. The current combined position has a net profit of $500k. Address: 0x939f95036d2e7b6d7419ec072bf9d967352204d2. (Source: ChainCatcher)