Bitcoin Holder Goes Wild: Sells $60M BTC, Bets Big on Ether! 💸😱

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So, picture this: a Bitcoin holder, who’s been clutching onto their precious coins like a toddler with a favorite toy, finally decides to let go. This week, they sold their entire stash-550 Bitcoin, worth a jaw-dropping $62 million! After seven years of watching their digital treasure, they’ve decided to dive headfirst into the world of Ether, with a whopping $282 million long position. Talk about a mid-life crisis! 💁‍♀️

According to some mysterious onchain analyst (because who doesn’t love a good pseudonym?), this hodler made the switch through the decentralized exchange Hyperliquid. “Either he’s got some insider scoop that’s hotter than a summer day in Ibiza, or he’s just throwing darts at a board,” the analyst quipped in a Wednesday X post. Sloppy execution? More like a dramatic exit from the Bitcoin stage! 🎭

Now, large moves like this are like the gossip of the crypto world-everyone’s watching to see what happens next. And just as our hodler made their big move, Bitcoin decided to dip to a two-week low of $112,000. Coincidence? I think not! Ryan Lee, chief analyst at Bitget exchange, said it best: “Rising nerves in the market” are palpable, especially with Jerome Powell’s upcoming remarks looming like a dark cloud over a picnic. ☁️

Hyperliquid Bitcoin Price Takes a Nosedive After $60 Million Sell

Now, while our Bitcoin seller’s $60 million sale might seem like pocket change compared to other mega transactions, it was enough to send Bitcoin’s price tumbling down by 200 basis points on Hyperliquid. Ouch! That’s like finding out your favorite dress is on sale but in the wrong size. 😩

With Bitcoin now trading at a 30 bps discount compared to other exchanges, it’s clear that this sale caused quite the ruckus. A 200 bps drop equals a 2% price difference, which is about $2,267 per Bitcoin. So, if you were thinking of buying, now might be the time-unless you’re waiting for a better discount, of course! 🛍️

This little drama suggests that Hyperliquid’s order books might be as shallow as a kiddie pool when it comes to handling big trades. CryptoMoon has reached out to Hyperliquid for their take on the liquidity situation-because who doesn’t love a good comment from the source? 🤔

In July, Hyperliquid hit a new monthly high of $319 billion in trading volume, making decentralized finance perpetual futures platforms feel like they just won the lottery with a cumulative high of $487 billion. Talk about a party! 🎉

According to VanEck researchers, Hyperliquid snagged 35% of all blockchain revenue in July, leaving Solana, Ethereum, and BNB Chain feeling a bit left out. It’s like being the last one picked for the team, but hey, there’s always next time! 🏆

Hyperliquid has now climbed to become the sixth-largest derivatives exchange in the world, with over $12 billion of 24-hour open interest. That’s quite the glow-up from 12th place since April! CoinGecko data shows that they’ve been making waves since launching spot trading with a user-friendly interface. Who knew crypto could be so glamorous? 💅

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2025-08-21 12:47