TechFlow News, May 28: According to Hyperinsight monitoring data, ETH’s price briefly retreated to around $2,000. Concurrently, four addresses associated with the largest ETH long position on Hyperliquid—referred to as the “BIT-affiliated whale”—all entered unrealized losses on their long positions, totaling $33.86 million in unrealized losses. Based on an estimated initial capital of approximately $16.5 million, the current unrealized loss exceeds the position’s principal by more than double.
Currently, this whale maintains a diversified long position across Hyperliquid, holding a total of 120,000 ETH (valued at roughly $237 million), with an overall weighted leverage of approximately 18x. Weighted by capital allocation across the four addresses, its composite average entry price is approximately $2,270; the nearest liquidation price among these four addresses stands at $1,716.
The address in question belongs to BIT, a digital financial services group (formerly Matrixport), and has repeatedly received inbound fund transfers from BIT’s own accounts. Previously, it executed multi-hundred-million-dollar long ETH positions, generating profits exceeding $50 million.
