BTC and ETH are both under pressure, but Giant Whale suddenly runs short! Short position reduction exceeding $110 million in 6 hours

BTC and ETH prices are still in a period of volatile adjustment, but some large players on Hyperliquid have shown an abnormal behavior: they are not continuing to chase short positions, but are massively reducing their short positions. According to the latest 6-hour monitoring of 300 Hyperliquid accounts, BTC short positions have increased by approximately $1.8 million, while approximately $55.9 million short positions have been reduced during the same period, resulting in a net short change of approximately $* -54.1 million. At the same time, BTC bulls saw a net increase of approximately $7.8 million. The change in ETH is more pronounced. In the monitoring sample during the same period, ETH's newly added short positions were less than 1 million US dollars, but about 54.9 million US dollars of short positions were reduced, with a net change in short positions of approximately * * -53.9 million US dollars * *. One of the previous top ten ETH holders in the monitoring sample directly closed a position of approximately 82.1 million US dollars. That is to say, despite the continued pressure on BTC and ETH prices, these Hyperliquid giants did not continue to heavily bet on a decline, but instead reduced their short positions by over $110 million within 6 hours. However, this does not mean that giant whales have completely turned bullish. According to data from the same period, the total holdings of Hyperliquid Whale are about 7.687 billion US dollars, of which short positions are about 4.027 billion US dollars, accounting for 52.38%. The overall long short ratio is still only 0.91, indicating that the overall positions of large funds are still relatively short. What is truly worth paying attention to is the contrast behind this change: * * Overall, it is still bearish, but in the short term, it is rapidly shedding some of its short positions. ** If BTC regains its stability at $78000 and continues to make a push towards $80000, bears may further reduce their positions or even be forced to close them, which could become a driving force for short-term rebound; On the contrary, if the short position is only a temporary profit taking and subsequent short positions are added, it means that the large investors still believe that the rebound space is limited. The price has not significantly strengthened yet, but short positions exceeding $100 million have withdrawn first. What we really need to focus on next is whether these whales will further increase after being short, which may be more valuable than simply observing whether BTC can stand at $80000. If you want to track the real-time flow of BTC and ETH funds, changes in trading volume, and market hotspots, you can register OKX through the AiCoin cooperation portal: 👉 https://jump.do/zh-Hans/xlink?checkProxy=true&proxyId=2 Risk Warning: The views, conclusions, and recommendations presented in this article are for reference only and do not constitute investment advice. The market is risky, and investment needs to be cautious.