$9M Profit for Hyperliquid Trader on ETH and BTC Longs
A hyperliquid trader has achieved a significant profit of $9M in perpetual futures trading strategies. The trader, identified as 0xa875890465da20062bcf3b024bf7d54e69c725a8, booked this profit from two long positions: a 123-day Ethereum (ETH) trade worth $143M notional and a 37-day Bitcoin (BTC) trade worth $50.35M notional.
The ETH position delivered a profit of $7.11M, while the BTC position generated $1.89M in profit.
Currently, the price of Ethereum is at $2493.63, testing the upper resistance at $2524.78. The Relative Strength Index (RSI) is neutral at 67.92, and the Moving Average Convergence Divergence (MACD) shows a death cross, which indicates a potential trend reversal.
The trader's profits were achieved despite the bearish signs in the technical indicators. However, the article notes that any pullback from upper-band exhaustion would likely find bids at the 50-EMA before continuation of the trend.