While we were relaxing over the weekend, someone shorted $370M BTC on Hyperliquid and changed his nickname to Tether FUD.

But then other whales joined in. They hopped BTC at $1,500 in 5 minutes to knock out its 40x leverage at $85,300. It would seem that's all.…

But no. This guy didn't give up: he poured in another $5M to raise the liquidation to $86,600. Now, if the whales want to finish him off, they'll have to push the price even higher.

Important: Hyperliquid already lacks liquidity — their hedge fund pool has been going into negative territory since this short opened.

What's going on?

Such battles between whales often end with either a hard short-squeeze or a drain if the defending level fails. But in any case, this is a good demonstration of how market makers and funds are fighting for control of the market.

We are watching the levels of $86,600 and $84,000 — there is a real war going on there now.

If I had $300 million, I wouldn't bother with shorts on the market.

I would just live a happy and peaceful life.