TLDR
- A Hyperliquid whale opened an $80 million leveraged position across Bitcoin futures, S&P 500 contracts, and Brent oil.
- The trader placed a $40 million short on Bitcoin near $68,760 with 7x aggregate leverage.
- Bitcoin rebounded above $68,000 after falling to $66,000 earlier in the week.
- The whale set the Bitcoin liquidation price at $80,083, while oil liquidation stands above $93.
- The same wallet previously lost $40 million after reversing profitable crypto short positions.
Bitcoin rebounded above $68,000 on Wednesday after touching $66,000 a day earlier. However, a large trader opened an $80 million leveraged position against the broader market direction. The move followed comments from President Donald Trump about a possible ceasefire in the Israel-Iran conflict.
Hyperliquid Whale Builds High-Leverage Bitcoin and Oil Position
The Hyperliquid whale constructed the position through several trades on Hyperliquid DEX. The wallet address 0x94d373…c933814 executed orders between Tuesday and Wednesday. The trader placed a $40 million short on Bitcoin futures near $68,760.
The position also included a $2 million short on synthetic S&P 500 Index contracts. At the same time, the whale opened a $37 million long position on synthetic Brent crude oil contracts. The aggregate leverage reached 7x, which increased exposure across all positions.
The Bitcoin futures position carries a liquidation price of $80,083. Meanwhile, the Brent oil position faces liquidation above $93. The structure shows a combined bet against Bitcoin and equities while backing higher oil prices.
The timing followed a 4% rise in S&P 500 Index futures between Tuesday and Wednesday. Traders reacted after President Trump said “Iran’s New Regime President” is considering a “ceasefire.” However, Iran demanded reparations and sovereignty before reopening the Strait of Hormuz.
Iranian Foreign Minister Abbas Araghchi denied active ceasefire talks. He told Al Jazeera there was an intention to end the war, according to CNBC. These mixed signals created volatility across crypto and traditional markets.
Bitcoin and Ether History Shapes Whale’s Latest Move
The Hyperliquid whale previously recorded large losses on leveraged crypto trades. In December 2025, the address reportedly lost $37 million during its first month of activity. The trader used automated bots to build large positions through many small transactions.
On Feb. 5, X user “lookonchain” flagged the address after heavy losses. The whale had switched from short to long positions on Ether, Bitcoin, Solana, and XRP on Feb. 4. That shift resulted in a $40 million loss within days.
This $DASH super short "0x94d3" made a big mistake yesterday.
He closed his $BTC, $ETH, $SOL, and $XRP shorts, then flipped long — and is now down $15.8M.
His total PnL went from +$25.5M to −$15.3M.
Address:
0x94d3735543ecb3d339064151118644501c933814 pic.twitter.com/WWzg2HaF45— Lookonchain (@lookonchain) February 5, 2026
Before that reversal, the same trader generated $25 million in profit from crypto shorts. The sudden change in direction erased those gains quickly. The record shows rapid position changes across volatile assets.
Despite the earlier losses, the whale has now placed another aggressive trade. The new $80 million exposure signals conviction in a downturn for Bitcoin and equities. At the same time, the oil long suggests expectations of rising energy prices.
Bitcoin traded above $68,000 during the position buildup. Markets responded to geopolitical headlines and ceasefire comments from Washington. The whale’s open positions remain active on Hyperliquid DEX at the time of reporting.
