Crypto Whale Closes $36 Million Bitcoin and Ethereum Long Positions at $24,000 Loss

According to new onchain reporting, the Hyperliquid whale later opened a 16x leveraged $50.6 million Bitcoin short, marking a sharp shift from earlier bullish positions to a high-risk bearish bet.

BTC

ETH

HYPE

38d ago

Fact Check

The claim's core sequence is substantially supported by two directly relevant reports from BlockBeats. In '某巨鲸保本平仓BTC及ETH多单，此前总规模达3600万美元 - BlockBeats', BlockBeats says a whale opened roughly $36 million in BTC and ETH longs and closed them for a net loss of $24,000, citing Hyperinsight. In '某巨鲸「All in」BTC及ETH：已开立2500万仓位试多，现价下方部署4000万规模买单 - BlockBeats', BlockBeats says the whale then opened about $25 million in 20x longs and placed about $40 million in lower buy orders. Those figures closely match the claim's $36 million, $24,000 loss, $25.3 million reopen, and $40 million lower orders. However, the evidence available here is not the original Hyperinsight or Onchain Lens post itself; it is secondary reporting attributed to Hyperinsight, and the Onchain Lens component is not directly confirmed by a matching primary post in the gathered sources. Because the exact primary source was not retrieved, confidence is medium rather than high.

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Summary

According to Onchain Lens and prior Hyperinsight reporting, wallet “0xa87” first closed Bitcoin and Ethereum long positions worth about $36 million on April 24 at a net realized loss of $24,000, after earlier long exposure across BTC and ETH. New reporting says a whale then opened a 16x leveraged Bitcoin short on Hyperliquid worth $50.6 million for 653 BTC, with an average entry price of $77,470 and a liquidation price of $81,308 on April 24. The address was also reported to have previously withdrawn 1,351 ETH from HitBTC and to have accumulated $720,000 in profit. Earlier reports that the wallet reopened $25.3 million in 20x BTC and ETH longs and placed $40 million in lower buy orders remain part of the record, but the available reporting does not fully clarify how all of the reported positions align in sequence.

Terms & Concepts

Crypto whale: A wallet or trader that controls or trades unusually large amounts of cryptocurrency, often enough to influence or attract attention in the market.
Long positions: Trades designed to profit from rising asset prices; losses occur if the market moves lower.
16x leveraged Bitcoin short: A bearish Bitcoin trade using borrowed exposure equal to 16 times collateral, amplifying both potential gains if BTC falls and liquidation risk if it rises.