According to Lookonchain, a previously dormant whale reactivated after four years, withdrawing 2.96 million USDC from Coinbase and transferring it to Hyperliquid. The whale then opened high-leverage short positions on ETH, PEPE, WIF, and OP, making over $2.4 million within just four hours (source: Lookonchain, Twitter, May 17, 2025). This significant and swift profit highlights increased bearish sentiment and potential short-term downside risk for these tokens, signaling a need for traders to closely monitor market volatility and possible follow-on selling pressure. Such large-scale leveraged moves can also impact liquidity and trigger cascading liquidations in the broader crypto market.