The post How This Whale Became Hyperliquid’s Biggest Loser appeared on BitcoinEthereumNews.com. The total crypto market capitalization rose today, amid expected Consumer Price Index (CPI) data and high optimism for a Fed rate cut next week. Nonetheless, the market rebound proved disastrous for traders betting against it. In fact, one Hyperliquid trader, identified by the wallet address 0xa523, has now surpassed the losses of high-risk traders like James Wynn, becoming the top loser. Sponsored Sponsored The Hyperliquid Loser Who Lost $43 Million — What Went Wrong? BeInCrypto Markets data showed that over the past 24 hours, the cryptocurrency market was up 1.34%, with all top ten coins in the green.  Crypto Market Performance. Source: BeInCrypto Markets  Bitcoin (BTC) briefly surged past $116,000 in early Asian trading hours. Meanwhile, Ethereum (ETH) also crossed $4,500, highlighting the market-wide rally. Amid this, Lookonchain, a blockchain analytics firm, reported that whale 0xa523 had heavily leveraged short positions on BTC, betting for a price decrease. When the market instead moved upward, the position came under pressure. To reduce the risk of liquidation, Lookonchain noted that the trader sold 152 ETH (worth about $679,000) to increase margin and was forced to close part of the Bitcoin short positions at a loss. “Shorting Bitcoin in a bull market is always dangerous,” Wise Advice wrote. Sponsored Sponsored This isn’t the first major setback for whale 0xa523 — his track record of losses is striking. Earlier this week, the firm highlighted that the trader sold 886,287 HYPE tokens for $39.66 million at one point at a loss. Had he held onto them, the position would have reflected an unrealized profit of around $9 million now. The whale later lost more than $35 million on a long position in ETH. Switching strategies, he opened an ETH short but suffered another $614,000 loss. According to the latest data from HyperDash, his current BTC… The post How This Whale Became Hyperliquid’s Biggest Loser appeared on BitcoinEthereumNews.com. The total crypto market capitalization rose today, amid expected Consumer Price Index (CPI) data and high optimism for a Fed rate cut next week. Nonetheless, the market rebound proved disastrous for traders betting against it. In fact, one Hyperliquid trader, identified by the wallet address 0xa523, has now surpassed the losses of high-risk traders like James Wynn, becoming the top loser. Sponsored Sponsored The Hyperliquid Loser Who Lost $43 Million — What Went Wrong? BeInCrypto Markets data showed that over the past 24 hours, the cryptocurrency market was up 1.34%, with all top ten coins in the green.  Crypto Market Performance. Source: BeInCrypto Markets  Bitcoin (BTC) briefly surged past $116,000 in early Asian trading hours. Meanwhile, Ethereum (ETH) also crossed $4,500, highlighting the market-wide rally. Amid this, Lookonchain, a blockchain analytics firm, reported that whale 0xa523 had heavily leveraged short positions on BTC, betting for a price decrease. When the market instead moved upward, the position came under pressure. To reduce the risk of liquidation, Lookonchain noted that the trader sold 152 ETH (worth about $679,000) to increase margin and was forced to close part of the Bitcoin short positions at a loss. “Shorting Bitcoin in a bull market is always dangerous,” Wise Advice wrote. Sponsored Sponsored This isn’t the first major setback for whale 0xa523 — his track record of losses is striking. Earlier this week, the firm highlighted that the trader sold 886,287 HYPE tokens for $39.66 million at one point at a loss. Had he held onto them, the position would have reflected an unrealized profit of around $9 million now. The whale later lost more than $35 million on a long position in ETH. Switching strategies, he opened an ETH short but suffered another $614,000 loss. According to the latest data from HyperDash, his current BTC…