A whale deposits $7M USDC into Hyperliquid, opening leveraged short positions on Bitcoin and XRP with $110M in exposure.
A new whale wallet has deposited $7 million in USDC into Hyperliquid to open short positions on Bitcoin and XRP. This move highlights a larger trend of whales taking leveraged bearish bets on major cryptocurrencies.
The wallet’s positions now hold over $110 million in notional exposure, reflecting growing interest in shorting digital assets amid market volatility.
Whale Wallet Opens High-Leverage Short Positions
The whale’s recent deposit on Hyperliquid represents a strategic move to open leveraged short positions on Bitcoin and XRP. The wallet used 21.2x leverage on Bitcoin, betting on its price decline. It also took a large position in XRP, opening a short on 8.88 million tokens.
A newly created wallet deposited $7M $USDC into #HyperLiquid and opened $BTC and $XRP short positions with 20x leverage.
Currently, the positions are valued at over $110M.https://t.co/r9vHRcD3f3 pic.twitter.com/H0O7BqORuh
— Onchain Lens (@OnchainLens) November 6, 2025
This move is part of a larger trend seen on Hyperliquid, where large traders are focusing on shorting Bitcoin.
While some of these positions face unrealized losses, many traders are hoping that Bitcoin’s price will drop. The mix of positions on XRP shows that whales are using a range of strategies with different expectations for the coin.
The current positions are highly sensitive to price movements. As of now, Bitcoin trades near $103,400, while XRP is around $2.29. The whale’s short positions are still active, with liquidation levels set at $108,768 for Bitcoin and $2.80 for XRP.
$7M USDC Transfer Fuels Leverage Activity
The $7 million USDC deposit on Hyperliquid reflects increased use of leverage in crypto derivatives markets.
On-chain data confirms the transfer to Hyperliquid Bridge, indicating the whale’s involvement in these high-risk trades. The position is now worth over $110 million in notional value, making it a significant bet on price declines.
This transfer highlights the growing use of derivatives for short-term speculation. Leveraged trading allows traders to amplify their exposure to the market, increasing potential profits or losses.
As the market remains volatile, large traders are increasingly using leverage to take advantage of price swings.
The whale’s deposit also underscores the importance of liquidity in the market. As more funds flow into platforms like Hyperliquid, they help maintain market activity and offer more opportunities for traders to adjust their positions.
Market Sentiment and Short Positions
The whale’s short positions come amid a market where short positions are slightly outweighing long bets.
According to data from CoinGlass, short positions made up 49.2% of the derivatives market in the past 24 hours. This trend suggests that many traders are preparing for further declines in major cryptocurrencies, especially Bitcoin.
At the time of writing, Bitcoin continues to dominate the market, holding a 58.5% share. The global crypto market cap is currently valued at around $3.5 trillion. Despite some signs of recovery, traders are still uncertain about the future direction of the market.
In addition to the whale’s positions, large liquidations have also been seen in the market.
Over $322 million in total liquidations occurred in the past 24 hours, with Hyperliquid accounting for around $37.8 million. This activity indicates that the market remains highly volatile, with both long and short positions exposed to significant risk.
The growing dominance of short positions suggests that traders are preparing for further downward price action. Whether these large bets will pay off depends on how Bitcoin and XRP perform in the coming days.
For now, market participants are closely watching these developments, especially as the whale’s positions remain active and highly leveraged.
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