A pseudonymous trader using the wallet 0x97f8 took a massive short position worth $147.6 million on the S&P 500 with 50x leverage on Hyperliquid’s perpetual futures platform. The trader scaled the position quickly from $111.6 million and earned unrealized gains close to $1 million as the market moved down. This trade highlights the risks and rewards of high-leverage macro trades on decentralized exchanges, especially with Hyperliquid offering 24/7 trading on traditional indexes. The position remains open amid ongoing market uncertainty tied to US economic data and Federal Reserve signals, with the risk of liquidation if the market rallies sharply.
When adjusted for the growth in the U.S. M2 money supply, both bitcoin and the S&P 500 show weaker valuations than their nominal prices suggest. Bitcoin's price relative to money supply has formed a bearish pattern, indicating its edge over dollar su...
Upbit, one of South Korea's largest crypto exchanges, has listed the meme-inspired token SPX6900 with trading pairs in Korean won (KRW), Bitcoin (BTC), and Tether (USDT). This multi-pair listing allows both local retail traders and international cryp...
Veteran trader Peter Brandt forecasts a significant rally in the S&P 500, with futures nearing $7,550 and a potential rise to $7,904, driven by positive market sentiment after the US-Iran peace deal announcement. Bitcoin also rebounded over 3%, boost...
