PANews reported on June 23 that according to monitoring by on-chain analyst Yu Jin, Hyperliquid "insider whale" @qwatio's BTC short position was closed at 1 a.m. with a profit of $1.97 million.

He initially used $7.3 million in margin to open a short BTC order with James, but his position was later reduced to less than $1 million due to liquidation. He finally added another position on June 13, with a position cost of $107,766. Since then, the BTC price has been falling back, and he closed his position at 1 a.m. today when the BTC price was below $100,000. He not only made back his losses, but also made an additional profit of $1.97 million.

He has made $26 million this year trading on Hyperliquid through three addresses.