A major cryptocurrency whale has closed a long position in HYPE, resulting in a loss of $2.047 million. Following this, the whale opened a 40x-leveraged short position on 682 BTC, according to on-chain analyst Onchain Lens. Current on-chain data indicates that this BTC short position has already accumulated a floating loss of over $680,000. The whale's strategic shift from HYPE to a high-leverage BTC short highlights significant market movements and risk-taking behavior in the crypto space.