Big Bets on Bitcoin, Ethereum, and Solana: Whale Bets $13M on Short Positions

Bitcoin, Ethereum, and Solana are making news as a crypto whale has deposited $13 million in USDC into the decentralized exchange Hyperliquid. The money was invested into opening short positions on Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) using 5x leverage or placed in a $65 million leveraged bet against the prevailing bullish market trend.

Betting Against the Momentum

This is evident as Bitcoin has recently surpassed $103K, and Ethereum has jumped by 23% following its successful Pectra upgrade. Solana has also experienced a resurgence of energy in its ecosystem, as people flock to stablecoins and experience network growth.

Although most of the market is celebrating the prospect of an alt season, this trader is clearly taking a short position, indicating a readiness for either a cooldown or an unknown catalyst that could lower prices.

Will it Pay Off?

Shorting with a 5x level will increase both the upside and downside. If the market continues to rise, investors may experience quick drawdowns or liquidations. However, if Bitcoin, Ethereum, or Solana correct sharply, then even a 10% drop would give massive profits.

The move also raises questions: Is this a sophisticated investor’s calculated risk or a high-conviction play from a contrarian trader?

This trade creates suspense in an already unstable market. Traders will be watching to see what happens next. Did this whale get the timing right? Time will tell.