Crypto Whales: When Leverage Bites Back 🤑💥

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In the dusty plains of the crypto frontier, where fortunes rise and fall like the sun over the Salinas Valley, some of the most grizzled Hyperliquid traders have learned a lesson as old as time itself: leverage is a double-edged sword, and it’ll cut you deeper than a rusty plow. 🪙⚰️ Abraxa Capital, a London-based crypto outfit with more nerve than sense, is still riding the bull, betting big while others count their losses.

The cryptocurrency market has been wilder than a dust storm in Oklahoma, with leading assets getting trampled in the selloff stampede. Bitcoin
BTC
$103,012
24h volatility: 1.2%
Market cap: $2.05 T
Vol. 24h: $60.85 B
took a 16.7% nosedive in the last 30 days, while Ethereum
ETH
$3,387
24h volatility: 2.7%
Market cap: $408.87 B
Vol. 24h: $34.00 B
got bucked off the saddle even harder, losing 28% of its value. Talk about a rough ride. 🤠💨

Perpetual traders got hit like a mule kick. The once-golden James Wynn went from $87 million in profits to $21.9 million in the red, according to Lookonchain. That’s enough to make a man weep into his whiskey. 🥃😭

“Stay away from high-leverage trading,” they warn, like a weathered farmer advising against planting in dry soil. “It’ll dangle riches in front of you, but in the end, it’ll leave you poorer than a church mouse.” 🐭💸

– Lookonchain (@lookonchain) November 6, 2025

Machi Big Brother, another Hyperliquid cowboy, lost $14.9 million. An anonymous trader who turned $125,000 into $43 million is now nursing $180,000 in losses. That’s the crypto equivalent of winning the lottery and then losing your ticket. 🎟️🤦‍♂️

A trader with a 14-win streak hit the skids, losing $30.2 million. Aguila Trades, “Gambler @qwatio,” and the biggest Hyperliquid loser (who deserves a trophy for that title) lost $37.6 million, $28.8 million, and $45 million, respectively. Talk about a bad day at the rodeo. 🤡🎪

What Are Hyperliquid Whales Doing Now?

The big fish are still splashing around in the deep end. According to CoinGlass, Hyperliquid whales are sitting on $5.8 billion in positions ($2.7 billion longs and $3.1 billion shorts). With the market showing a glimmer of hope, the BTC long/short ratio shifted to 56%/44%. ETH is close behind, with 55.9% of traders betting on its comeback. But when it comes to small-cap altcoins, these whales are as cautious as a cat in a room full of rocking chairs. 🐱🪑

Meanwhile, Abraxa Capital, the biggest trader on the perpetual decentralized crypto exchange, is playing with fire. They opened a $174 million short position on ETH at $3,527 and a $128.4 million short on BTC at $111,616. Right now, they’re sitting on $17.2 million in unrealized profits. But as any old-timer will tell you, the market giveth, and the market taketh away. Let’s see if they’re still smiling when the tide turns. 😏🌊

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2025-11-06 15:17