A $30 million whale enters with high leverage! What is the hidden strategy behind going long on all three coins?

A super whale just deployed $30 million on Hyperliquid, going in on $BTC with 40x leverage, entering $ETH with 25x leverage, and heavily loading up on $NEAR with 10x leverage—this is definitely not an ordinary test of the waters, but a carefully planned “three-front offensive”!

On-chain data shows that the whale opened a position of 200 BTC at an average price of $83,604, bought 4,000 ETH at an average price of $2,536, and continued adding to its position with 332,000 NEAR at an average price of $5.81.

In my view, the whale’s most ingenious move was NEAR—it not only has the lowest leverage among the three coins, but was also the strongest performer of the day. NEAR perpetual contracts briefly reached $5.959, hitting a new yearly high, with an intraday gain of 11%. The nearly 37% rebound led to heavy short liquidations. By contrast, although BTC and ETH were also bought, the BTC position with 40x leverage looks more like a “ride-along” than the main attack.

Market impact: The Fear and Greed Index has now risen to 69, indicating “greed,” while CPI data due on the 14th is about to be released, making it the biggest short-term variable. The whale’s decision to enter with high leverage at this time suggests it is betting that the CPI data will benefit risk assets. However, BTC spot ETFs saw net outflows of $681 million last week, so the fund flow situation is not optimistic. If CPI exceeds expectations, highly leveraged positions will face substantial liquidation risks.

What should retail investors do? The whale’s $243,000 unrealized profit is merely a “paper figure,” and high leverage is a double-edged sword. Leverage in the current NEAR derivatives market has accumulated to a record high of $1.56 billion. Once prices pull back, cascading liquidations could trigger a stampede. Be sure to control your position size and do not get swept up in the sentiment that “even the whales are charging in”—the whale may lose its profits, while you could lose your principal.

Want to know when this whale will take profits and exit? Follow Mige for first-hand interpretations of on-chain movements and to help you avoid retail-investor traps! #GateWCTCS9全球交易赛