Wintermute reduced Hyperliquid short exposure by $131M, cutting positions from $211.53M to $80.48M while increasing HYPE shorts.
Macro & Markets ·
Wintermute reduced its Hyperliquid short exposure by $131 million, trimming positions from $211.53M to $80.48M. The trading firm maintains a net short stance with $80.48M in shorts against $5.51M in longs, while simultaneously increasing its short position in HYPE tokens from $5.60M to $10.20M. The moves were tracked on the Ethereum address 0xecb63caa47c7c4e77f60f1ce858cf28dc2b82b00.
The reductions came as the firm managed its Hyperliquid exposure, though the mechanics driving the shift—whether market-driven liquidations, voluntary position management, or changes in leverage—are not specified. Wintermute's HYPE short expansion suggests a divergent directional view on that asset versus Hyperliquid more broadly.
Current unrealized losses on the position stand at $568.8K, indicating the shorts remain underwater. It remains unclear whether further rebalancing is planned or what price levels, if any, triggered these adjustments.