Bitcoin News Today: 3x Leveraged Whale Bets $87M Against BTC's Rally as Market Splits

A Bitcoin whale on the Hyperliquid platform has opened a 3x leveraged short position on BTC, amassing a $87.58 million exposure as of November 10, 2025. According to market analysis, the position, which contrasts with other major players' strategies, highlights the volatile and polarized sentiment in the crypto market amid a broader price rally.

The whale, identified by the address 0x9263, initially built a $64 million long position after capitalizing on a recent price dip, generating $8.5 million in unrealized profits. This move contrasts with another Hyperliquid whale's $131 million short position, which faces liquidation if BTC surpasses $111,770. At the time of reporting, BTC traded at $106,443, leaving a $5,327 buffer before the short position would be forcibly closed.

Market data underscores the bullish momentum, with $343.89 million in 24-hour liquidations, 74.7% of which originated from short positions. The $131 million short, leveraged at 20x, currently holds a 4.86% unrealized gain from an average entry price of $111,499.30. Meanwhile, the 0x9263 address has earned $31 million in total profits on Hyperliquid, including a streak of 20 consecutive winning trades.

Technical indicators also favor upward movement, with Bitcoin's RSI at 66 and 15 buy signals versus one sell signal. Institutional buying, such as a €620 million fund accumulating BTC, further supports the rally. However, liquidity risks persist on Hyperliquid, which recently incurred a $5 million loss during a $30 million POPCAT memecoin manipulation event, triggering $63 million in forced liquidations.

Hyperliquid's aggregate open positions total $5.336 billion, with 55.36% allocated to shorts and $175 million in unrealized profits. While the platform's liquidity challenges remain a concern, the interplay between long and short positions illustrates diverging market outlooks. The 0x9263 whale's long bets align with BTC's upward trajectory, while the $131 million short's potential liquidation could create buying pressure, potentially driving BTC toward $111,770.

The situation reflects broader macroeconomic dynamics, including Federal Reserve policy shifts and institutional adoption. As market analysis shows, as traders navigate leveraged exposure and liquidity risks, the crypto market's volatility remains a focal point for both retail and institutional participants.