Key takeaways:
– A Hyperliquid whale placed an $80 million bet against Bitcoin and the S&P 500 while going long on Brent crude oil.
– The whale’s prior massive losses and inconsistent signals suggest the trade could end up on the wrong side of the market.
Bitcoin (BTC) bounced on Wednesday from Tuesday’s $66,000 low, climbing above $68,000 after President Donald Trump signaled a potential ceasefire in the US and Israel‑Iran war. Despite that strength, a Hyperliquid whale used the DEX to assemble an almost $80 million leveraged position betting on a market selloff.
The whale, linked to address 0x94d373…c933814, built the position between Tuesday and Wednesday. It comprises roughly a $40 million short on Bitcoin futures near $68,760, a $2 million short in synthetic S&P 500 Index contracts, and about a $37 million long in synthetic Brent oil contracts. Aggregate leverage on the position was around 7x. The Bitcoin futures liquidation price sits at $80,083, while the Brent position would be force‑closed above $93. The trade was placed as S&P 500 futures rose about 4% between Tuesday and Wednesday amid hopes the conflict will ease.
Trump’s comments that Iran’s new leadership was considering a ceasefire—paired with Iran’s demands for reparations and sovereignty and denials of ceasefire talks from Iranian officials—left room for divergent interpretations. The whale’s positioning appears to counter the market’s optimistic view, effectively betting on higher Brent crude and weaker Bitcoin.
This address has a checkered recent history. The Hyperliquid whale reportedly lost roughly $37 million in its first month of activity in December 2025 and was flagged by X user lookonchain on Feb. 5 after taking large losses on leveraged bullish bets in Ether (ETH), Bitcoin, Solana (SOL), and XRP. Analysis indicates the entity had previously earned about $25 million from shorts, then flipped positions on Feb. 4 and suffered roughly a $40 million loss. The pattern of many small automated trades suggests bot execution, but the outcomes show even large players can misread markets.
Given the whale’s track record and the mixed geopolitical signals, the current $80 million contrarian bet may still prove wrong if the market keeps pricing in de‑escalation.
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research before making any decisions. Cointelegraph makes no guarantees regarding the accuracy or completeness of the information presented, including forward‑looking statements, and will not be liable for any loss or damage arising from reliance on this content.