According to Lookonchain, whale 0xc653 capitulated by closing a 1,200 BTC ($126M) long position on Hyperliquid approximately an hour ago, resulting in an $8.25M loss and withdrawal of all funds from the platform (source: Lookonchain, Twitter, May 30, 2025). Despite earning $1.95M in seven winning trades from May 21 to 27, this large-scale loss highlights increased volatility and risk management challenges in the Bitcoin derivatives market. Such significant whale activity can create short-term price pressure and impact liquidity on major exchanges, making it a crucial signal for crypto traders to monitor (source: hyperdash.info/trader/0xc653c).