This whale really knows how to hedge exchange-rate risk, but the 104% unrealized loss on the HYPE short position is also very stubborn. Let’s see whether a $50 million position can hold all the way to the liquidation line at $143.

CoinWorld News: HYPE short positions reduced by 20,296.36 coins, approximately $2.16M. The current position size is $8.64M, with an average price of $43.30. The current profit and loss is -$1.81M (-104.79%). The current coin price is $54.78, and the liquidation price is $143.81. During the long-term market oscillation downward, this whale relied on profiting from long BTC and altcoin exchange rates. Now, with a total of $50 million in long BTC and short HYPE positions, the total cycle profit exceeds $37 million.