Hyperliquid Whale Shorts Bitcoin, $75K Retry Earnings.
Main Receptors:
A whale linked to asset manager Fasanara Capital holds a $38 million crypto short position, but will it affect Bitcoin's price? Negative futures funding volumes on Binance and Bybit indicate unusual bearish positioning demand despite BTC's recent price gains.
Bitcoin (BTC) struggled to trade above $78,000 on Friday, but the overall formation remains strong. BTC has gained 29% since its annual low of $60,100 on February 6, and many analysts believe it is on the verge of a long-term breakout. At the same time, a bearish Bitcoin well maintained a large short position on the Hyperliquid exchange. The whale has made a profit of $159 million in the last seven months. Does his position offer any signals the market should pay attention to?
Hyperliquid whale profit and loss data. Source: CoinGlass
The component behind address 0x7fda…c517d1 (also known as BobbyBigSize) on High fluid exchange From October to November 2025, he did well during the market downturn by placing short bets on Ether (ETH), HyperLiquid (HYPE), Avalanche (AVAX) and Fartcoin and others. The account was unable to sustain its profits, resulting in a loss of $561,000 over the past 30 days.
The whale is very heavy on ETH, but bears on BTC and altcoins
Using algorithmic trading, the whale previously opened short long positions in Bitcoin and Solana (SOL), resulting in a staggering $11 billion in trading volume on the Hyperliquid exchange. BobbyBigSize currently holds $19.4 million in platform assets. 63% of the trades produce positive results, which is considered very successful.
BobbyBigSize Current Location, USD Source: Hyperdash
BobbyBigSize currently holds a $38 million short position in BTC and several altcoins. The trader opened a long-term ETH position of $21 million last week, indicating short-term confidence. Overall, the portfolio's position is short, suggesting a short-term correction is expected.
Related: The critical trend of Bitcoin is changing at work, but analysts say it is close to the $80,000 needed daily
BobbyBigSize's average trade duration was just over two weeks, while the median position lasted just under four days, according to Hyperdash data. Arkham Data previously linked this address to London-based institutional asset manager Fasanara Capital. The firm reportedly manages more than $5 billion in assets.
Source: X/Arkham
Launched in 2018 as a digital platform, Fasanara manages $400 million in market-neutral strategies and venture investments. In parallel, the quantitative multi-manager approach in various liquid markets manages $150 million. However, the strategy behind the fund's move to cryptocurrency has not been made clear.
Hyperliquid DEX Annual Funding Rates. Source: Hyperliquid.xyz
Funding rates for BTC And ETH stood slightly positive on Hyperliquid, indicating moderate interest in long positions. Under neutral conditions, longs pay annual rates of 6% to 12% to maintain their positions. Currently, funding rates are negative on Binance and Bybit, indicating an unusually high demand for leverage.
Algorithmic traders are flawed and unpredictable, and the losses experienced by “BobbyBigSize” over the past two months show that no trading strategy can last indefinitely. However, this whale's bearish position is consistent with increased demand for short positions. Therefore, Bitcoin traders should not discard the possibility of retesting the $75,000 level.
