The post Whale Closes 50x ETH Long on Hyperliquid Amid Market Crash appeared on BitcoinEthereumNews.com.

Key Takeaways: A prominent whale on Hyperliquid closed out a colossal 50x leveraged ETH long as the market crashed to new lows. Ethereum’s plunging price caused a cascade of liquidations, applying pressure on Hyperliquid and raising fears about market stability. The whale’s rapid changes in position mirror a fast-moving environment, in which leveraged bets can turn sentiment in seconds. Hyperliquid Whale Close 50x ETH Long Amidst Market Plummet Ethereum’s latest collapse has shaken the crypto world, with Hyperliquid standing out as one of the most visible places where the effects were felt. ETH hit a low of $1,411 on April 7, its lowest price since March 2023, triggering a wave of liquidations and rapid shifts in market positioning. One of the more notable moves: a whale who has a penchant for high-risk trading on Hyperliquid closed an enormous 50x leveraged long on ETH. This same address had benefitted from a 50x short in the past and had just switched to a bullish stance by opening a 20x long near $1,459. However, as ETH crashed and dove toward the whale’s liquidation threshold of $1,391, the position was force-closed or cashed out to prevent full wipeout. According to on-chain data from Hyperrscan, the whale deposited 3 million USDC to open a 20x leveraged long position on 32,800 ETH at $1,461.6 — a $47.62 million bet. With ETH in freefall, the high leverage meant even small moves carried huge risk, and it seems the position was either force-closed or exited by the whale, likely to avoid a full liquidation. This is not the whale’s first rodeo. They made a $1.87 million profit shorting ETH with 50x leverage (also Hyperliquid) earlier this year. The rate at which that flip went from short, to long, to now closed underscores how fast sentiment changes in leveraged…

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Filed under: News - @ April 7, 2025 5:27 pm