On-Chain Whales Face Substantial Unrealized Losses on ETH, BTC, SOL While Initiating New LIT Shorts on Hyperliquid

On December 31, major whale accounts on Hyperliquid were carrying large unrealized losses on long positions in Ethereum, Bitcoin, and Solana, according to Coinbob data cited by BlockBeats. The “BTC OG Insider Whale” showed about $39.4 million in losses, mainly from ETH longs, while the “CZ Counterparty” faced roughly $27.6 million in ETH and XRP losses. At the same time, accounts such as “The Ultimate Short” and “Altcoin Short Leader” opened new LIT short positions, signaling a tactical shift amid market pressure.