Hyperliquid Whale Opens $60.7 Million in Ethereum Longs
The trader built his record on Hyperliquid, while U.S. spot Ethereum ETFs are seeing outflows. Later this week, the CPI release could add more volatility.
Key Takeaways
- A Hyperliquid whale opened about $60.7 million in Ethereum longs during a sharp drop in the crypto market.
- According to Lookonchain, the trader closed 15 trades with just one small loss and is up about $2.6 million.
- U.S. spot Ethereum ETFs saw outflows for ten straight days, while later this week the U.S. CPI release could bring extra volatility.
A Hyperliquid whale with an almost flawless trading streak went long on Ethereum as the crypto market sold off sharply. According to Lookonchain, the trader opened about $60.7 million (€54.3 million) in ETH longs, good for an unrealized profit of around $2.6 million (€2.3 million).
Whale Builds Up a Record
The trader built up that result in a short time. Four new wallets were created about four months ago, and then trading on Hyperliquid, a decentralized derivatives exchange, began.
Since then, the whale has closed 15 trades with only one loss, according to data shared by Lookonchain. That loss was small: $3,866 (€3,460) on an ETH short that stayed open for just one minute.
Most of the profit came from BTC longs. Those brought in about $28.2 million (€25.2 million) out of a total $29.75 million (€26.6 million). Two older positions are still in the red, though. A long of 10,000 ETH shows a loss of $1.9 million (€1.7 million), and a long of 400 BTC is about $97,000 (€86,800) lower. After offsetting those losses against the new longs, all four open positions together are still about $608,600 (€544,300) in the green.
Ethereum Remains Volatile
The new ETH positions were opened around $2,420 (€2,160), close to the level where Ethereum briefly dropped earlier on Tuesday as liquidations swept through the market. At the time of writing, ETH was around $2,526.75 (€2,260), about 0.99% lower than 24 hours earlier and 6.39% lower than a week earlier.
That kind of movement fits the broader market over the past few days. Ethereum has swung between about $2,411.24 (€2,160) and $2,559.49 (€2,290) over the past week. That shows how fast the price can turn, especially when leveraged positions get wiped out.
ETF Outflows and CPI in Focus
At the same time, U.S. spot Ethereum ETFs keep losing money. According to SoSoValue, there was another outflow on October 12, the tenth day in a row. From October 6 through October 12, total outflows reached $576.8 million (€516 million).
For European crypto watchers, that matters because it shows how differently professional and speculative trading can behave. While the whale aggressively went long, ETF investors pulled money out of the same market over the past few days. Later this week, the U.S. inflation report, September CPI, could also bring more movement. Economists are expecting annual inflation of 3.7%, down from 3.4% earlier.
