Wintermute: Hyperliquid Shorts Return to Profit

Wintermute’s heavily short Hyperliquid book moved back into profit as crypto market caps slid, now holding ~$149.2M in shorts versus ~$5.01M in longs for +$1.73M unrealized PnL including a $ETH short of ~$58.36M.

With ETH trading at $2443.09 inside the Bollinger band and testing upper resistance at $2509.98 while RSI sits neutral at 47.26, price action points to a healthy retracement toward EMA50 support at $2422.77 before any continuation higher, shaping near-term ETH price prediction during this crypto market crash phase and Bitcoin native short flows.