A whale on the decentralized derivatives exchange Hyperliquid (HYPE), known as @qwatio, has made a bold move, depositing 2.98 million USDC to initiate new short positions on both Bitcoin (BTC) and Ethereum (ETH). According to EmberCN, the whale is currently sitting on an unrealized profit of $1.9 million. The BTC position, leveraged at 40x, involves 1111 BTC with an entry price of $117,297 and a liquidation price precariously close at $118,333. The ETH position consists of 4141 ETH at 25x leverage, with an entry price of $3724 and a liquidation price of $4385. EmberCN noted that this deposit likely represents the address's remaining funds. This particular address previously generated significant unrealized profits – up to $26 million from a $3 million starting seed. However, past failures in short positions have eroded most of those gains. The address was also identified as the "Trump insider" in March, suffering a substantial loss of $25.84 million last month. This new strategy will be closely watched by the crypto community to see if the whale can recover from previous losses. ```

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