Whale Suffers $450,000 Loss on 50x Leveraged S&P 500 Short Position

On April 2, Huo Xing Finance reported, citing Hyperinsight data, that a prominent whale address, identified as 0x965, opened a highly leveraged 50x short position on the S&P 500. The $12.2 million position, initiated at an average entry price of $6,453.50, rapidly incurred a 19% loss, equivalent to approximately $450,000, within just 10 minutes. The current liquidation price for this position stands at $6,537.70. Concurrently, the same address fully closed an intraday BRENTOIL short, realizing an $806,000 loss, and has been actively depositing $478,000 into Hyperliquid to meet ongoing margin requirements.