Whale Moves: $15.5M USDC Deposited to Hyperliquid, $90.7M BTC Long Position Opened

According to monitoring data released by Lookonchain on January 7, a well-known whale wallet address (identified as 0xFB78) recently executed a significant transaction on the crypto trading platform Hyperliquid.

Details of the Transaction

The whale deposited 15.5 million USDC into the Hyperliquid platform and subsequently opened a long BTC position valued at $90.7 million using the platform's 20x leverage mechanism.

• USDC deposit: $15.5 million
• Leverage used: 20x
• BTC position value: $90.7 million

Market Implications

Such large-scale movements often stir speculation about short-term price action, particularly when combined with high leverage, potentially signaling the whale's bullish outlook on BTC.