A crypto whale on Hyperliquid has placed an $80 million leveraged bet against Bitcoin and the S&P 500 while going long on Brent crude oil.
The position includes a $40 million short on Bitcoin near $68,760, alongside exposure to falling equities and rising oil prices, reflecting a contrarian macro view.
The trade was built with roughly 7x leverage, with liquidation levels set near $80,083 for Bitcoin and above $93 for Brent crude.
The move comes as Bitcoin rebounded above $68,000 following optimism around a potential ceasefire in the Iran conflict.
Despite the high conviction, the trader has a history of significant losses, including a $40 million drawdown after reversing earlier profitable positions.
Following the announcement the Bitcoin price was up at $68,000.
The whale’s strategy appears to bet against improving market sentiment, expecting geopolitical tensions to drive oil higher and risk assets lower.
Analysts note that given the trader’s inconsistent track record, the position may not be a reliable signal for broader market direction.
At the time of reporting, Hyperliquid price was $35.29.