Last night and this morning, Hyperliquid staged a bloody drama! Four whale addresses quickly withdrew $10.08 million USDC in real cash (addresses like 0xe86b05 are solid evidence), this is not normal retail trading; it is clearly the big players smelling gunpowder and collectively fleeing! Even more exciting is the whale 0x20c2d9, who stubbornly held on to a $13 million unrealized loss (enough to buy three houses in Shanghai!) before finally giving in and liquidating 655 ETH, but the liquidation price is still stuck at the critical threshold of $4900—if ETH breaks this price tonight, it will directly trigger a chain reaction of liquidation explosions!
Mig's In-depth Analysis:
Withdrawal Storm Hides Secrets: Whales concentrated bloodletting over $10 million within 6 hours, clearly avoiding the black swan risk of this week's Federal Reserve interest rate decision. Historical experience shows that such operations often foreshadow severe market fluctuations within 48 hours, having appeared before the market crashes in 2019 and 2023!
Short Whale's Desperate Struggle: Why haven't they closed their position after a $13 million loss? This suggests that this big player either has insider bearish news and is waiting for a crash, or is fully leveraged and being roasted over a fire. But be careful! The liquidation action exposes a fatal weakness—$4900 is the life-and-death line of the long and short battle. Once breached, it will trigger millions of ETH liquidations on-chain (data from Laevitas monitoring).
Personal Radical Opinion: The market makers are clearly playing a scheme of "withdrawal baiting shorts + explosion forcing liquidation"! The whales withdrawing USDC are mostly waiting to buy the dip after a crash, while the short whales' positions are like live targets. The bulls are highly likely to pump tonight and slaughter the shorts! Retail investors remember: when whales fight, it’s crucial to follow the winning side and pick up the corpses...
On-chain Whale Activity Alert—Follow Mig, to help you avoid detours!!