Hyperliquid platform's whale holdings have reached $9.698 billion as of September 22, 2025, with a long-short ratio of 0.86. Long positions account for $447 million, representing 46.1% of the total, while short positions stand at $522.7 million, or 53.9%. Long positions are experiencing an unrealized loss of $9.799 million, whereas short positions have a loss of $19.1 million. A significant whale address, 0x5b5d..60, has opened a 10x fully collateralized short position on Bitcoin at a price of $111,459.6. This position is currently facing an unrealized loss of $3.4274 million, highlighting the ongoing market volatility impacting major players.