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Stubborn whales are betting $37 million against the S&P 500 index despite losses!
In a move that reflects strong determination to predict the “collapse” of traditional markets, one whale (0x4ff) continued to build up its Short position on the S&P 500 index via the Hyperliquid platform. The whale now holds a massive position of 5,056 contracts, with a total value reaching $37.7 million
Although the portfolio is currently suffering unrealized losses exceeding $2.22 million due to the index’s rise, the whale chose to “double down” instead of backing off. This behavior puts the portfolio at real risk if the upward momentum continues; the liquidation point is at 8,104.94$
Does this whale see signs of a “bubble” that is about to burst?
Or will it fall victim to the unstoppable rally? The coming days will reveal who will win in the battle of #gatepizza