Whale Bets $13M on BTC, ETH, SOL Short

Lede: A significant market action occurred on May 10, 2025, when an unidentified whale address deposited $13 million USDC on Hyperliquid to short Bitcoin, Ethereum, and Solana.

Nut Graph: The transaction underscores prevailing bearish sentiment in the crypto market. This move, potentially increasing volatility, places considerable attention on existing market dynamics.

An Unprecedented Move in the Crypto Market

An anonymous whale deposited $13 million USDC to Hyperliquid, enabling high-leverage short positions. This move creates $65 million in exposure across Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), indicating a strong bearish stance.

The whale utilized 5x leverage on Hyperliquid, a decentralized platform that recently dealt with a significant short on Bitcoin. The use of such leverage suggests anticipating substantial downward price movements in these assets.

Market volatility may increase, as large positions often lead to rapid price shifts and potential liquidations. Historical precedents show enhanced trading activity during similar events, which heightened market sensitivity.

“A whale deposited 13M USDC to Hyperliquid and opened massive short positions on BTC, ETH, and SOL with 5x leverage. Watch for volatility as the market responds.” – Lookonchain, On-Chain Analytics Platform

These actions reflect broader market uncertainties and bearish trends observed lately. On-chain clues and precedents suggest ongoing interest in short strategies within high-leverage crypto derivatives.

If successful, these moves could reinforce bearish sentiment and impact broader DeFi markets. Historical patterns show heightened volatility and risks of liquidation during similar large-scale strategies.