HYPE/BTC Ratio Hits All-Time High of 0.0₃628; Whale's Hedged Position Nets $3.16M Gain

According to Hyperinsight monitoring, on May 20, a whale's hedged position on Hyperliquid achieved a net floating gain of $3.16 million as HYPE/BTC ratio hit an all-time high of 0.0₃628 amid BTC's recent decline and HYPE's surge.

The whale maintained a combined long HYPE and short BTC position worth approximately $43.28 million over the past month: a 10x HYPE long with $24.85 million notional value generated a $4.4 million floating gain (+183%), while a 20x BTC short worth $19.33 million suffered a $1.24 million loss (-127%). HYPE's outperformance against BTC drove the portfolio's continued gains.