Whale Executes 20x Leveraged Short on Bitcoin

A well-known whale, address 0x5D2F, executed a 20x leveraged short of 1,232 BTC on Hyperliquid, gaining over $28.7 million in unrealized profits.

This significant trade highlights ongoing market volatility, influencing Bitcoin’s price dynamics, and underscoring the impact of large leveraged positions on decentralized financial platforms.

Whale’s $1.0863 Billion BTC Short Draws Market Attention

The whale’s activity began earlier this month with a 20x leveraged short involving 1,232 BTC, valued at approximately $1.0863 billion. The on-chain monitoring confirmed the whale, known only by the address 0x5D2F, utilized Hyperliquid, a decentralized exchange, to execute this significant position. While no official commentary from Hyperliquid leadership or the whale themselves is available, the trade has drawn significant market attention.

The activation of limit orders between $75,819 and $79,919 indicates planning for potential profit from price fluctuations. Market volatility is expected, given the scale of positions and the rapid price changes. While this event remains isolated without broader official responses, traders are attentive to the potential market impact and implications.

“The impact of large whale short positions has been notable, causing temporary volatility in BTC prices and affecting the protocol’s Total Value Locked (TVL).”

Bitcoin’s Decline and Potential Regulatory Scrutiny

Did you know? In October, a whale faced significant losses from a large BTC short, illustrating the high-risk nature of such trades.

As of November 20, 2025, Bitcoin’s market price stands at $86,937.07, reflecting a 2.67% drop over 24 hours. The currency’s recent performance shows a declining trend, with a 13.47% fall over the past week and a 22.32% dip over the last month, according to CoinMarketCap data.

Coincu analysts suggest this whale action might drive regulatory discussions around on-chain leverage and risk exposure for decentralized platforms. Hyperliquid’s current strategic silence positions it among protocols observed for influence on market dynamics through whale activities and trading volumes.