Hyperliquid Whale Down $9 Million This Week Flips to a 20x Tesla Bet

A Hyperliquid trader who held a $98 million bitcoin long has closed the position at a loss of roughly $9 million this week. The wallet then opened about $46 million in leveraged Tesla and chip-stock bets at 20x, just two days before Tesla's earnings report. The move is a single whale's risk rotation rather than a market-wide signal, though it illustrates how leveraged crypto positions can unwind quickly and shift capital into equities.