It looks like a whale might be positioning ahead of something the broader market hasn’t priced in yet.
Current short positions:
▫ $144.85M in $BTC
BTC
70,174.29
-0.30%
▫ $95.23M in $ETH
ETH
2,114.21
+1.69%
▫ $13.09M in $PEPE
PEPE
0.0₅384
+2.12%
▫ $12.97M in $HYPE
▫ $270K in $XMR
That’s a heavy bet across majors, alts, and even memes not a single-asset hedge. Moves like this usually signal either strong conviction, deep hedging, or preparation for volatility rather than a simple directional play.
The real signal to watch isn’t just the size, but how long these positions stay open and whether funding, OI, or spot flows start to confirm the bias.