Wintermute's Shorts and Transfers Weigh on Market Rebound

Wintermute's short position on Hyperliquid has grown significantly in recent days. According to Onchain Lens, the firm's address has added approximately $44.58 million in new shorts concentrated in major coins such as Ethereum (ETH), Bitcoin (BTC), and SOL.

The current top five short positions are: ETH ($53.02 million), BTC ($30.66 million), SOL ($22.62 million), HYPE ($11.43 million), and XRP ($10.19 million).

In addition to increasing its short position, Wintermute has also transferred a cumulative total of 3,834.3 BTC (worth approximately $256.8 million) to Binance this week.

The related address is currently sitting on an unrealized loss of about $5.85 million, though its lifetime P&L still exceeds $200 million in profit.