Whale Bitcoin Short on Hyperliquid Triggers $420M Battle

Key Points

• Whale Bitcoin Short on Hyperliquid Triggers $420M Battle
• Traders, led by CBB, launched a coordinated effort to liquidate the position.
• Rumors suggest Justin Sun and even Eric Trump may be involved.
• Analysts believe market makers manipulated the trade to trap the whale.

A high-stakes battle is unfolding in the crypto market. A whale trader on Hyperliquid, a decentralized exchange, placed a $423 million Bitcoin short using 40x leverage. This move triggered a dramatic response from traders and influencers, who are now working together to push BTC’s price higher and force a liquidation.

lmfao we might have some ammo coming in https://t.co/GS68ksb4aC pic.twitter.com/ExYHfg36M0

— CBB (bera era) (@Cbb0fe) March 16, 2025

Crypto trader CBB took to X (formerly Twitter), calling on high-net-worth investors to join forces. He claimed that “eight figures” had already been committed to the effort. Interestingly, he also hinted that Tron’s founder, Justin Sun, was involved—though Sun has not confirmed this. In a surprising twist, CBB even invited Eric Trump to participate.

Hyperliquid has already faced scrutiny over suspicious trading activities, with many questioning whether its structure enables money laundering. Some experts believe this whale’s aggressive trading pattern fits a broader trend of unregulated transactions on the platform. Hyperliquid money laundering fears rise after suspicious trades.

The Whale Wallet’s High-Leverage Bitcoin Short Trade. Source: Hyperliquid – Techtoken

The whale’s short position is still profitable, with BTC trading at $83,460—just 3% away from liquidation. However, with increasing volatility, a sudden price move could decide the whale’s fate.

If you are willing to hunt this dude with size, drop a DM, setting up a team right now and already got good size. pic.twitter.com/2lPtXxIitd

— CBB (bera era) (@Cbb0fe) March 16, 2025

A Market-Wide Battle Unfolds

The whale, identified by the wallet 0xf3F496C9486BE5924a93D67e98298733Bb47057c, has a history of high-leverage trades. Some analysts even speculate potential links to North Korean hacking groups.

HL whale strategy was simple

Short huge amount at high leverage publicly in hyperliquid to gain attention
Long in CEX at the same time

He expected MMs and institutions would take out liquidation pushing BTC 1k$ above and that would trigger a good pump in BTC due to short…

— CryptoVikings.HL (@CryptoVikings07) March 16, 2025

Many traders suspect the whale attempted a dual-exchange strategy—shorting Bitcoin on Hyperliquid while simultaneously going long on a centralized exchange (CEX). The plan? Force a short squeeze on Hyperliquid, causing BTC’s price to surge and profiting from the long position.

However, market makers caught on. According to X user CryptoVikings, they manipulated the price downward first to liquidate the whale’s CEX longs, then pumped BTC’s price to squeeze the Hyperliquid short. If true, this move left the whale trapped on both sides.

Hyperliquid has redefined trading.

When a whale shorts $450M+ BTC and wants a public audience, it’s only possible on Hyperliquid.

When headlines say “Bitcoin Market on Edge,” they are equating “Hyperliquid” with the “market.”

Anyone can photoshop a PNL screenshot. No one can… pic.twitter.com/0fmBmXNOOg

— Hyperliquid (@HyperliquidX) March 17, 2025

The Ripple Effect on the Crypto Market

This high-stakes whale war is not happening in isolation. Bitcoin’s price movement often influences the broader market, and Solana (SOL) traders are closely watching this situation. SOL, which has been on a bullish trajectory, needs a 40% surge to break key resistance levels and maintain its momentum. Solana price rally needs 40% surge to break key resistance.

At the same time, XRP has been making headlines after surpassing Ethereum’s fully diluted valuation (FDV) and gaining strong institutional support. This recent surge has sparked discussions about XRP’s liquidity in the U.S. market, with a new proposal potentially unlocking $1.5 trillion in funds. XRP unlock US liquidity proposal could free $1.5 trillion & XRP surpasses Ethereum FDV.

Meanwhile, crypto scams and phishing attacks have been on the rise. Scammers are increasingly targeting users of major platforms like Coinbase and Gemini, using fraudulent emails to steal funds. The growing number of scams underscores the importance of security as more traders flock to decentralized exchanges like Hyperliquid. Crypto scam emails target Coinbase & Gemini users.

The Future of Hyperliquid and Public Trading

Despite the controversy, Hyperliquid has embraced the event, highlighting how public trading transparency is the future of decentralization.

“Hyperliquid has redefined trading. When a whale shorts $450M+ BTC and wants a public audience, it’s only possible on Hyperliquid… Anyone can photoshop a PNL screenshot, but no one can question a Hyperliquid position—just like no one can question a Bitcoin balance. The decentralized future is here,” the platform stated.

With the market watching closely, the question remains—will the whale survive this market ambush, or will coordinated efforts push BTC past the liquidation point?