8 hours ago
One ultra-leveraged Hyperliquid trader has been liquidated 5 times implicit the play and has mislaid astir $3.7 cardinal successful the past week with assertive bitcoin (BTC) and ether (ETH) shorts, according to on-chain data.
Qwatio, a heavy leveraged Hyperliquid trader in the benignant of James Wynn, has been opening abbreviated positions connected BTC and ETH erstwhile the tokens are astatine sessional lows.
This determination is simply a flip from his strategy earlier this twelvemonth erstwhile helium traded BTC and ETH via assertive longs.
Qwatio archetypal got connected the radar of Crypto Twitter when they opened a 50x leveraged BTC and ETH bets worth $200 million successful the hours earlier U.S. President Donald Trump signed an enforcement bid to make a crypto reserve – which was a wide bullish catalyst for the market.
They besides were a major holder of the Melania memecoin during its archetypal motorboat earlier this year.
Overall successful the past 24 hours determination has been $50 cardinal of ETH and $31 cardinal successful BTC abbreviated and liquidated crossed the market, according to CoinGlass data.
Read more: James Wynn, the Trader Who Bet $1B connected Bitcoin, Is Now Long Pepe
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