5 月 13 日，据 Onchain Lens 监测，某巨鲸向 Hyperliquid 追加转入 1000 万枚 USDC，用于扩大其在 BTC、ETH 和 SOL 上的 5 倍杠杆空头头寸。
其 Hyperliquid 总存款已达 5050 万枚 USDC，其中 BTC 空头头寸价值超过 1.09 亿美元，总空头头寸已超过 2.3 亿美元。

<div><p>5 月 13 日，据 Onchain Lens 监测，某巨鲸向 Hyperliquid 追加转入 1000 万枚 USDC，用于扩大其在 BTC、ETH 和 SOL 上的 5 倍杠杆空头头寸。</p><p>其 Hyperliquid 总存款已达 5050 万枚 USDC，其中 BTC 空头头寸价值超过 1.09 亿美元，总空头头寸已超过 2.3 亿美元。</p></div>

某巨鲸追加1000万枚USDC用于做空BTC、ETH和SOL，总头寸超2.3亿美元

On May 13, according to Onchain Lens monitoring, a whale transferred an additional 10 million USDC to Hyperliquid to expand its 5x short positions on BTC, ETH, and SOL.

Its total Hyperliquid deposits have reached 50.5 million USDC, with its BTC short position valued at over $109 million, and total short positions exceeding $230 million.

<div><p>On May 13, according to Onchain Lens monitoring, a whale transferred an additional 10 million USDC to Hyperliquid to expand its 5x short positions on BTC, ETH, and SOL.</p><p>Its total deposits on Hyperliquid have reached 50.5 million USDC, with its BTC short position valued at over $109 million, and total short positions exceeding $230 million.</p></div>

A whale added 10 million USDC to short BTC, ETH and SOL, with a total position of over $230 million

Another case of "address poisoning," causing one user to lose $50 million. Photo: Techradar
The attack caused a shock.
A cryptocurrency user lost nearly $50 million USDT after mistakenly transferring the funds to...

Another case of "address poisoning," causing one user to lose $50 million.

Today we saw gold, silver, and palladium all hit new highs! Since the correction at the end of October, gold has been trading above the 25-35 day moving average; silver is rising along the four-hour moving average; and palladium is rising along the three-day moving average.
Synchronization: This "synchronized new highs" usually signifies the start of a major trend. Gold provides "stability," silver provides "elasticity," while the addition of palladium indicates a dual surge in industrial and investment demand.
In this clear upward trend, trading volume has not weakened significantly and no bearish structure has emerged. Don't try to short the short at the top; otherwise, you'll end up with...

Market Analysis | Gold, Silver, and Palladium Hit New Highs! How High Can They Go!?

Chapter 1: Executive Summary and Industry Landscape Analysis
As of December 19, 2025, the global digital asset mining sector is undergoing the most profound structural transformation since the birth of Bitcoin. With Bitcoin's price retreating to the $86,000 range after reaching an all-time high of approximately $125,000 in October 2025, and the total network hashrate surpassing the 1,000 EH/s mark, mining companies face the dual challenges of compressed profit margins and surging capital expenditures in the "post-halving era."

1.1 Industry Differentiation

Figure 1: Analysis of the Relationship between Hashrate and Market Capitalization of Major Mining Companies in 2025

The above figure clearly shows the current...