High-Leverage Whale Flips ETH Short to BTC Long, Gains $6M in 24 Hours

In Brief:

Whale used 40x leverage on BTC long via Hyperliquid

Trader closed ETH short on MUX, netting a combined $6.16M profit

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A high-stakes crypto trader just pulled off a bold reversal—flipping from a short position on Ethereum to a high-leverage long on Bitcoin, and walking away with over $6 million in under 24 hours.

According to on-chain data from Lookonchain, the whale originally shorted ETH on MUX before switching strategy. They then opened a 40x leveraged long position on BTC using Hyperliquid, with that single trade now showing an unrealized profit of $4.27 million.

The combined profits from both positions—ETH short and BTC long—total $6.16 million, making this one of the most aggressive and successful trading plays of the week.

The move reflects increased volatility across majors, as traders take sides in the broader market correction.

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