Galaxy Digital, Wintermute: $126M Hyperliquid Shorts

Wintermute and Galaxy Digital sit heavily short-biased on Hyperliquid with $126.23M shorts against just $11.33M longs, according to onchain data shared by @OnchainLens. Wintermute carries $99.82M shorts versus $5.12M longs while Galaxy Digital shows $26.41M shorts versus $6.21M longs, leaving both desks down $15.30M and $5.96M over the past 30 days. The positioning highlights aggressive market maker bets on further downside in the Hyperliquid perp DEX market maker positioning explained through wallet activity at 0xecb63caa47c7c4e77f60f1ce858cf28dc2b82b00 and 0xcac19662ec88d23fa1c81ac0e8570b0cf2ff26b3.