Bitcoin OG Opens $330M Ethereum Short on Hyperliquid

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  Bitcoin OG opens 12x short position on 76,242 ETH
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  $30M USDC deposited into Hyperliquid for the trade
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  Liquidation price set at $4,613.7 per ETH

In a bold and closely-watched move, a known Bitcoin OG just opened a massive short position against Ethereum (ETH) on the decentralized exchange Hyperliquid. The trader deposited $30 million in USDC and used it to open a 12x leveraged short on 76,242 ETH, valued at approximately $330 million.

This high-risk position comes with a liquidation price of $4,613.7 per ETH, suggesting the trader expects a significant drop in Ethereum’s price before any major upward movement.

Market Impact and Community Buzz

The crypto community has been buzzing about this move, as such a large short position from a seasoned market participant often sparks speculation. Some view it as a hedge against upcoming market volatility, while others interpret it as a bearish signal for Ethereum in the near term.

Hyperliquid, a rising player in the decentralized perpetuals space, has been attracting more high-volume traders in recent months. This trade highlights growing confidence in on-chain derivatives platforms and their ability to handle large transactions with minimal slippage.

What This Could Mean for Ethereum

The short position could influence broader market sentiment, especially if Ethereum faces resistance around key price levels. While the liquidation point is well above the current price, the position’s size could create pressure, particularly if other traders begin to follow suit.

Still, the move may also be strategic — a hedge against portfolio exposure or a short-term play on expected market corrections. Ethereum’s performance in the coming days will reveal whether this gamble pays off or results in a high-profile liquidation.