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Whale Earns $1.28 Million in 24 Hours From Bitcoin-HYPE Hedged Trade

According to Hyperinsight, the trader posted $820,000 in 24-hour profit as HYPE fell nearly 5% to around $36, while the BTC-HYPE relative-value position reached $2.1 million in gains over two days.

BTC
HYPE

Summary

According to Hyperinsight on March 31, a whale betting on Bitcoin to outperform HYPE recorded $820,000 in profit over the past 24 hours. The address held a $28.1 million long BTC position at $70,557 and a $20.58 million short HYPE position at $38.9. HYPE fell nearly 5% to around $36 during the period, and the trade’s total gains over two days reached $2.1 million.

Terms & Concepts
  • Hedged trade: A strategy that combines offsetting positions, such as long BTC and short HYPE, to profit from relative performance while reducing some directional risk.
  • Long position: A trade that benefits if the asset’s price rises from the entry level.
  • Short position: A trade that benefits if the asset’s price falls from the entry level.