According to Ai 姨 (@ai_9684xtpa), a well-known Hyperliquid trader who has profited over $21.12 million has resumed active trading in Ethereum spot markets. Eight hours ago, after closing a losing WIF short position, the trader used 3 million USDC to purchase 1221.3 ETH at an average price of $2457. Notably, on May 11, this trader earned $3.74 million by buying low and selling high on ETH. The current trading approach appears to focus on shorting Bitcoin and altcoins while actively trading ETH. This strategic shift is significant for Ethereum price action and may impact crypto market sentiment as large whale movements tend to influence volatility and liquidity. Source: @ai_9684xtpa on Twitter.

According to ZachXBT, an investigation has identified a mysterious Hyperliquid whale engaged in illicit activities, reportedly profiting approximately $20 million through highly leveraged positions in recent weeks. This discovery is crucial for traders as it highlights potential market manipulation risks and the necessity for increased scrutiny in trading practices.

According to Dan Held, a notable figure in the cryptocurrency community, the Hyperliquid whale has been identified as the new bear whale in the market. This suggests a significant shift in market dynamics, potentially indicating a bearish outlook from a major market player.