5 Million-Dollar Whales Collectively Bottom-Fish SK Hynix, Currently All Positions in Loss

TechFlow news, July 29, according to Hyperinsight monitoring, after SK Hynix announced earnings this morning, its stock price continued to fall. As of press time, Hyperliquid SK Hynix Korean Stock Mapping Contract SKHX is quoted at $969.93, a 24-hour drop of about 11.0%.

Less than an hour after the sharp decline, 5 million-dollar-level new, reopened, or reversed positions appeared on the platform, all long positions, totaling 8,419.75 SKHX longs, with a position value of about $8.167 million and a weighted entry price of $981.15.

Currently, SKHX has fallen below the overall cost line of the aforementioned whales, all 5 long positions are at a floating loss, with a total loss of about $95,000. Among them, the nearest liquidation price is $930.62, about 4.1% away from the current price.

Funding rates also indicate rapid inflow of bottom-fishing capital. SKHX hourly funding rate was once -0.0855% at 7 AM this morning, quickly turned positive after the earnings report, and the current real-time estimate has risen to 0.0373%.

Calculated at the current rate, long positions worth $1 million need to pay shorts about $373 per hour. The funding rate quickly turned positive, long trades after the sharp decline are obviously crowded, but the price has not yet stopped falling.