Whale loses $469,000 in hours on Hyperliquid, yet re-enters with $16M ETH short bet

An unknown trader on Hyperliquid realized about $469,000 in losses before fees as an overnight Ethereum rebound forced the closure of nearly $19.8 million in ETH short exposure. By the afternoon of Oct. 19, the wallet was adding to its bet against ETH again. Four new short orders between 13:56 and 14:04 UTC on Oct. 19 added about 1,126.2 ETH, worth roughly $2.7 million at execution. By the 16:00 UTC account check, the wallet was short about 6,789.3 ETH, with the position valued near $16.2 million. At 16:00 UTC on Oct. 19, that short used cross margin with leverage set to 25x. Hyperliquid estimated its liquidation price at about $2,434.67, while the venue's ETH mid-price immediately after the account check was about $2,393.05.

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