Hyperliquid whale pulls a slick move: shorting 70 million while aggressively accumulating spot.

[Crypto World] On-chain data from December 4 shows that most of the big players with Hyperliquid short positions over $10 million are simultaneously stockpiling spot holdings for hedging.

The top three on the short sellers list have some interesting strategies:

The largest short, nicknamed “BobbyBigSize,” has shorted $51.5 million in HYPE, but is also holding $11.85 million in spot—classic two-way betting.

“Abraxas Capital” is even more aggressive, with two addresses shorting a total of $71 million. At the same time, they’ve been frantically increasing spot holdings since the start of the month, ramping up from $56 million to $63 million in just the last three days—clearly betting on volatility for arbitrage.

There’s also the “Lightning Swing Hunter,” with $32.91 million in shorts and $6.68 million in spot holdings—a seasoned player’s move if you’ve ever seen one.

These whales are shorting while stockpiling, either to hedge risk or to set up for a big swing move. Either way, when retail investors can’t make sense of the market, it’s often a sign these whales are about to cash in.