Overnight, Nasdaq 100 plummets by 1.7%, a $40M whale holding a long position sees their cost basis breached

BlockBeats News, March 13, according to Coinbob Popular Address Monitor data, the overnight Nasdaq 100 fell by 1.7%. On Hyperliquid, the XYZ100 price is currently at $24,570. As a result, the whale on the platform, known for its "heavy positioning in three major markets," saw its 10x leveraged long position on XYZ100 go from profit to loss overnight, with a floating loss of $480,000. The current position size has decreased to $39.3 million with an average price of $24,861.

It is reported that this whale has been continuously bearish on commodities and bullish on risk assets for the past month, currently holding a $8.8 million long position in BTC and a $5.23 million short position in CL (crude oil). Despite the pullback in Nasdaq futures, the hedge against the crude oil correction and BTC rally has allowed it to achieve a $120,000 overall profit for the day.