Hyperliquid Whale Reverses Into $23.7 Million Bitcoin Long Position

A prominent on-chain trader on decentralized perpetual exchange Hyperliquid opened a long position of 288.649 Bitcoin worth approximately $23.6715 million at a reference price of $82,008. The aggressive directional shift follows earlier activity where an address trimmed a multi-million-dollar short position from 573.759 BTC ($47.4194 million) to 525.806 BTC ($43.1037 million) as Bitcoin dropped from $82,647 to $81,976. The new long bet is about 2.3 times larger than a previously tracked 121.23 BTC long worth $10.27 million on the platform.