In brief
- A crypto whale opened short positions against Bitcoin and XRP with 20x leverage, totaling $140 million.
- At the time of writing, the wallet is up about $3.1 million despite both assets only moving down just a couple of percentage points.
- It comes as the crypto market starts to turn bearish, with institutional crypto firm Galaxy lowering its end-of-year Bitcoin target on Wednesday.
A whale on Hyperliquid opened two heavily leveraged short positions against Bitcoin and XRP, totaling $140 million. The unknown wallet is now up about $3.1 million in about nine hours.
The fresh Hyperliquid wallet was funded with $7 million in USDC from an Arbitrum wallet that redeemed the tokens from a zero address, making it impossible to track the…
Jan 12 2026
