Hyperliquid Trader Breaks Even on $487M BTC and ETH Positions

A major cryptocurrency trader known as Hyperliquid has clawed back from a significant loss on its massive positions in Bitcoin (BTC) and Ethereum (ETH).

The trader's long positions, which totaled $487 million across 11 addresses, had peaked at an unrealized loss of $120 million just a few months ago.

After entering 3,000 BTC at around $72,000 and 120,000 ETH at approximately $2,260, the price of both assets experienced sharp gains over two days, erasing the drawdown and leaving the trader with breakeven levels.

According to technical analysis, Ethereum's price is now testing its upper Bollinger resistance at around $2,289.16, while its RSI (Relative Strength Index) is flashing an overbought signal at 93.06.