On-chain tracking a370: Whale 0xBd8 suffers heavy losses in HyperLiquid HYPE long positions

According to on-chain data tracking by Onchain Lens, a seasoned trader with wallet address 0xBd8 experienced a high-leverage tragedy on the HyperLiquid derivatives platform. This whale, marked as a tracking target by the market, opened a 5x leveraged long position on HYPE tokens on January 15th and ultimately chose to close the position, incurring a loss of $7.18 million in a single trade, with total losses exceeding $8.09 million.

The Costly Consequences of High-Leverage Strategies

From the trading details, 0xBd8 did not make a rash decision. This active on-chain veteran trader employed an aggressive 5x leverage long strategy, attempting to capitalize on the rise of HYPE on HyperLiquid. However, the market trend clearly went against expectations, with a single position loss reaching an astonishing $7.18 million. This is only the loss from the final closing—over the entire trading cycle, 0xBd8 has endured cumulative losses of more than $8.09 million.

The risks of high-leverage trading were fully exposed in this incident. Unlike passive waiting in spot trading, a 5x leverage in derivatives contracts means that every 1% price movement amplifies fivefold on the account. For large positions, such volatility can lead to catastrophic consequences.

Signal of Complete Fund Withdrawal

More notably, after closing the position, 0xBd8 withdrew all remaining funds from the HyperLiquid account. This move reflects a change in the trader’s attitude towards the current market—from aggressive long positioning to cautious defense. The flow of funds in a wallet address often serves as an important indicator of market sentiment; the withdrawal of large holders usually signals a shift in market participant confidence.

As of January 21st, the price of HYPE tokens is $20.84, down 3.08% in the past 24 hours. Compared to the expected rise at the time of this whale’s entry, the actual trend shows a completely opposite performance.