Market crash triggers fierce whale battles, with bulls and bears staging a dramatic showdown over positions

【Block Rhythm】On December 16th, the cryptocurrency market experienced a significant plunge, with whale addresses actively making moves. According to on-chain data tracking, this wave of adjustment triggered aggressive actions by several large holders.

First, an address labeled «pension-usdt.eth» opened a 3x leveraged BTC long position at midnight today, with an investment of up to $85.76 million at an average price of $86,300. This move made it the largest BTC long on Hyperliquid. Interestingly, this address was very active yesterday, completing four open and close trades within a single day, earning approximately $2.8 million in profit.

Another address, known as «Calm Trader», has also been actively trading intensively over the past 6 hours, opening long positions on BTC, ETH, and SOL with a total scale of $7.11 million. Although it now has an unrealized loss of about $20,000, early this morning it decisively closed its previous short position, harvesting about $13,000 in profit during this downturn.

The most noteworthy is the «Ultimate Short» whale, which reappeared after more than ten days of silence. Today, it partially closed an $8.6 million BTC short position, locking in a profit of $2.37 million. It still maintains a short position of $61.88 million, with an unrealized profit of $18.46 million (profit rate of 542%). Its liquidation price is set at $104,000, and it continues to place orders for short positions until $68,000, currently ranking second on Hyperliquid’s short list.

Meanwhile, the «Paul Wei» address executed four new BTC long trades from last night to this morning, with an unrealized loss of about 7%. It has most of its funds pending in orders, with long and short positions ranging between $84,800 and $93,300. Interestingly, since November 16th, this address has accumulated a profit of $3,100.

Finally, the «BTC OG Insider Whale» is in a less favorable situation. Its ETH long position is currently unrealized at a loss of $400 million (a -37% decline), with an average price of $3,167. This single position alone accounts for $564 million. Combined with losses on BTC and SOL longs, the entire account’s holdings amount to about $680 million, currently ranking first on Hyperliquid’s ETH long list.