5 million-dollar whale buyers are concentrating on bottom-fishing SK Hynix; right now, losses are being incurred across the board

Deep Tide TechFlow news. On July 29, according to monitoring by Hyperinsight, after SK Hynix released its earnings this morning, its stock price continued to fall. As of the time of writing, Hyperliquid’s Shanghai Hynix Korean stock-mapped contract SKHX is reported at $969.93, with a 24-hour drop of about 11.0%.

Less than an hour after the big drop, the platform saw 5 new, reopened, or reversed positions at the million-dollar level, all long positions. They totaled 8,419.75 SKHX, with an overall position value of about $8.17M. The weighted average entry price was $981.15.

SKHX has now fallen below the whale’s overall cost line above. All 5 long positions are in an unrealized loss, totaling about $95k. Among them, the most recent liquidation price is $930.62, about 4.1% below the current price.

Funding rates also show bargain-hunting capital flooding in quickly. The SKHX hourly funding rate once hit -0.0855% at 7:00 this morning. After the earnings report was released, it rapidly turned positive, and the current real-time estimate has risen to 0.0373%.

Based on the current funding rate, long positions worth $1 million would need to pay about $373 per hour to shorts. With the funding rate quickly flipping back positive, long trades after the crash are now clearly crowded, but the price has not yet stopped falling.