A certain whale recently deployed a 53 million scale "Multi BTC Short HYPE" position, losing $900,000 in a single day during this round of HYPE rally.

BlockBeats News, April 10th, according to Hyperinsight monitoring, on-chain data shows that the whale known for "Longing BTC while shorting alts to hedge against a market crash" has been profiting from the BTC/Altcoin exchange rate during the market's downward volatility. However, with BTC stabilizing recently, HYPE has continued to strengthen, reaching above $40 today with an intraday gain of over 5%, putting pressure on both sides of this combination, leading to a $900,000 intraday fund withdrawal.

The address currently holds a long position in BTC (40x leverage): $30.4 million in size; a short position in HYPE (5x leverage): $23.2 million in size.

Previously, during the last surge of HYPE, the whale started deploying positions and completed all positions on March 20th, with a total size of approximately $53 million. Since then, the net loss has been around $300,000, with no realized gains yet.

Prior to this, using a similar strategy, the whale had opened a long position in BTC with a size of around $50 million while shorting ETH, XRP, ADA, and 8 other currencies. That strategy was successful, maintaining a total profit of around $37.1 million throughout the entire cycle.