On Hyperliquid, a major trader just opened an aggressive 40x leveraged short on Bitcoin after depositing $3 million to fuel the position. This move signals significant bearish sentiment from a whale-sized account.

The same trader isn't putting all eggs in one basket either—they're running a 25x leverage short on Ethereum as well, and that position is already in the green with $1.96 million in unrealized profits. Not a bad start.

Looking at their current exposure: they're holding roughly 1,073.5 contracts worth of BTC shorts, alongside their Ethereum position. These are serious numbers that suggest either conviction in a near-term pullback or hedging against existing long exposure elsewhere.