Bitcoin Whale Bets $488 Million on Hyperliquid: Market Concerns Raised

A massive leveraged bet by a Bitcoin whale has sent ripples through the cryptocurrency market, raising concerns about volatility and potential cascading effects. On-chain data reveals the whale placed a colossal $488 million long position on Hyperliquid with 40x leverage, linked to the wallet address 0x507..6ebd6. This trade’s scale and high leverage suggest immediate market impacts.