A certain ancient whale dumped Bitcoin on Hyperliquid and opened a 23,000 ETH long position.

By: theblockbeats.news|2025/08/20 17:21:36

BlockBeats News, August 21st, according to @mlmabc monitoring, a wallet that withdrew 15,000 BTC from HTX and Binance 7 years ago (valued at $95 million at the time), is now starting to sell these BTC on Hyperliquid. In the past 8 hours, it has deposited around 550 BTC to Hyperliquid (worth $62 million) and is currently selling.

This has caused a sudden 200 basis point drop in BTC on Hyperliquid, currently trading at a 30 basis point discount compared to other exchanges. Subsequently, the seller opened a long position of 23,000 ETH (approximately $99 million) using the proceeds from selling BTC.

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