Whale Trader Faces Estimated $15.25 Million Unrealized Loss on Bitcoin and Ethereum Shorts

A recent development in the cryptocurrency market highlights the risks associated with leveraged trading. A well-known whale trader on Hyperliquid has seen its estimated $15.25 million unrealized loss on its Bitcoin and Ethereum short positions.

The trader, identified as pension-usdt.eth, opened a total of $110 million in 3x leveraged short positions earlier this month. However, a sharp price rebound has turned these bets against the trader.

According to on-chain data from AmberCN, the unrealized loss represents the difference between the entry price and the current market price, multiplied by the position size. The whale's risk of liquidation is high due to the thin margin between its position and the liquidation price.