PANews reported on July 12 that according to on-chain analyst Yu Jin's monitoring, an "insider whale" used $16.28 million to short BTC and ETH over half a month, with the entire position being liquidated yesterday, resulting in a loss of $16.27 million. The trader seems unwilling to accept defeat, so he just redeemed 10 million USDC from Maker and then transferred it to Hyperliquid to continue shorting.
Currently, he has opened short positions worth $232 million: 40x short 1,273 BTC, valued at $150 million, with an entry price of $117,828 and liquidation price of $122,789; 25x short 27,700 ETH, valued at $82.42 million, with an entry price of $2,966 and liquidation price of $3,196.
