Gold briefly touches $4600: Bearish whale liquidated for $7.7M, largest short position cut in half
March 25 –
Per Hyperinsight Monitoring, spot gold prices jumped over 5% today. The GOLD contract on Hyperliquid reclaimed $4,600 earlier and is now trading at $4,590.
Amid gold’s rebound, a short whale was forced to liquidate twice this morning in the $4,500–$4,520 range with $1M+ orders each, totaling over $7.7M in liquidations. Its current open interest is now under $1M.
Meanwhile, the “Largest On-Chain Gold Short” (address 0x06a) faces mounting pressure. Its total floating profit, once up to $6.3M, has shrunk nearly in half to $3.2M amid the rally. The address holds a 4x-leveraged GOLD short position worth ~$33.7M, with an average entry price of $4,972 — and has not adjusted its position yet.
2 minutes ago
HYPE Finance company Hyperliquid Strategies has launched PURR stock options trading on Nasdaq.
March 25th – Per a company press release, Hyperliquid Strategies Inc.—the HYPE Treasury company—announced Tuesday it has launched options trading for its common stock PURR on the U.S. Nasdaq Options Market. The move aims to boost liquidity and improve price discovery for PURR shares, which offer investors a capital-efficient way to gain exposure to Hyperliquid’s native token HYPE. Hyperliquid Strategies primarily accumulates HYPE tokens via staking, yield optimization, and ecosystem engagement to maximize shareholder value.
Hyperliquid Strategies CEO David Schamis stated: “This is a significant milestone for the company. PURR options enable our investors to better manage risk and tap into the fast-growing Hyperliquid high-performance ecosystem.”
Schamis noted that at the time of the options launch, Hyperliquid is seeing record growth—fueled by a surge in trading volume for perpetual contracts tied to tokenized real-world assets, including perpetual oil contracts. Just six months
2 minutes ago
Backpack Clarification: Polymarket User Attempting to Manipulate Coin Price is Not a Backpack Team Member
On March 25th, Backpack took to social media this morning to announce that a Polymarket trader held a large open position, betting BP’s fully diluted valuation (FDV) the day after its token generation event (TGE) would exceed $200 million.
As the settlement window neared, with BP’s price hovering around $0.19, a specific trader appeared to be purchasing large volumes of BP tokens in an attempt to push the price above $0.20 and win their Polymarket trade.
The Backpack team immediately launched an investigation. These traders are not insiders—they are not Backpack employees, directors, executives, advisors, nor do they have any affiliation with the platform. Backpack maintains a zero-tolerance policy for all forms of insider trading.
2 minutes ago
A whale went 40x short on BTC and 20x long on crude oil as a hedge; both positions are currently in the red
On March 25, LookOnChain monitoring reveals the whale that previously sold 255 BTC to short has opened two positions:
- A 40x short on 1,000 BTC (≈$70.7 million)
- A 20x long on 202,155 units of xyz:BRENTOIL (≈$19.25 million)
Both positions are currently in the red. The whale once held an unrealized gain of $25.16 million but now faces an unrealized loss of $33.39 million.
2 minutes ago
Gold Oil Bear "Abraxas Capital" Rolls Over to Short GOLD, Nearly $4 Million, Position Increases to $21.2 Million
March 25 — Per HyperInsight monitoring data, the Abraxas Capital sub-address (0xb83d...) has incrementally expanded its GOLD short position over the past hour, adding nearly $4 million in holdings.
Following this increase, its 5x leveraged CL short position now stands at $21.25 million, with the average entry price dropping from $5187 to $4796. The current GOLD price is $4587, leaving the position with ~$980k in unrealized gains (12% return) and a liquidation price of $6144.
Notably, this short position was significantly expanded when gold traded around $4850 (hitting the prior decline’s high). The address also holds a $25 million BRENTOIL short position, with $2.95 million in unrealized gains.
2 minutes ago
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