An insider whale transferred 668,000 USDC to GMX to open a 95x leveraged Bitcoin short position.

According to the on-chain analyst Yu Jin's monitoring, the "insider whale" has just ended his short position on Hyperliquid: he closed all his XRP short positions on Hyperliquid.

His comeback this time was met with failure again: 5 days ago, he transferred 4.22 million USDC to Hyperliquid and started short selling. After closing all the positions today, he was left with only $668,000 USDC, a loss of $3.55 million.

Did you think he'd given up? No, he switched to another casino: He withdrew the remaining 668,000 USDC from his Hyperliquid position and transferred it to GMX. Then, with a whopping 95x leverage, he shorted $59.89 million worth of BTC...

The opening price was $114,560, and the liquidation price was $115,131. This... even the slightest fluctuation would have gotten me swept away...