An influential cryptocurrency investor has transferred $40 million in USDC to Hyperliquid, a decentralized exchange, to enhance his short position on Bitcoin.
This investor has consistently maintained a pessimistic outlook on both Bitcoin and Ethereum.
In the past, this experienced trader shifted from holding Bitcoin to accumulating Ethereum. Today, he strategically moved $40 million in USDC into Hyperliquid to strengthen his bearish stance on Bitcoin.
Recently, the investor increased his short positions in both BTC and ETH. This move proved profitable as he capitalized on a swift market downturn, amassing gains of over $160 million.
Many significant traders are utilizing stablecoins like USDC within Hyperliquid. They do so to fine-tune their positions and safeguard against potential liquidations during market recoveries. This approach highlights their ability to adapt trading strategies amid fluctuating market conditions.
Hyperliquid remains an attractive platform for large-scale investors seeking leveraged opportunities with Bitcoin. Recently, there have been several cases where insiders and major traders have intensified their short positions in anticipation of impending market corrections.