Chasing longs at the high end and getting stopped out for a $6 million loss—this tuition fee is a bit painful, but switching to a short position for defense at least means you didn’t get carried away and keep holding, and now you’ll wait for the next direction.

CoinWorld News, overnight and this morning, the AI and semiconductor sectors saw a sharp pullback. SKHX (SK Hynix) on the Hyperliquid platform briefly fell below $1,500. The largest SKHX long position holder (0x9dc) closed all long positions on MU and SKHX during this broad market decline, including a single realized loss of $4.42 million on SKHX, making this address the one with the largest 24-hour drawdown in U.S. stock trading on Hyperliquid. This address had chased SK Hynix longs at a high price a week ago, with an average entry price of $1,803 and a position size of $35.16 million. After closing positions and exiting today, the address's $17.8 million in funds have fully shifted to a short defense stance, with no further opening or closing actions seen yet. Its cumulative losses over the past 7 days have reached $6 million, but it remains a major holder in the semiconductor sector.