A prominent cryptocurrency trader, referred to as "内幕老哥," has been actively managing large short positions in Bitcoin (BTC) and Ethereum (ETH) on the Hyperliquid platform. Over the past week, the trader experienced multiple partial liquidations, resulting in realized losses of approximately $1.9 million and unrealized losses of $3.67 million at one point. Despite these setbacks, the trader maintained a substantial short exposure, with BTC 40x leveraged shorts initially holding 905.05 BTC valued at about $97.56 million at an average entry price of $104,724.5 and a liquidation price near $108,160. The ETH short position also saw significant activity, with 5,600 ETH liquidated in one instance. Recently, the trader replenished margin by converting 4.5 million DAI to USDC and deposited the USDC into Hyperliquid, enabling an increase in short positions to a combined value exceeding $246 million. Current holdings include 1,400 BTC shorts valued at $150 million at an entry price of $106,808 and 40,000 ETH shorts valued at approximately $96.9 million at an entry price of $2,454.91. This repositioning has led to a floating profit of around $1.09 million. Meanwhile, a whale investor moved 3,500 ETH worth $8.51 million from Aave V3 to Binance after an eight-month supply period, incurring a $2.63 million loss. Additionally, two wallets associated with a large entity recently executed a sell and buyback of ETH, selling 4,598 ETH for 10.95 million DAI at $2,383 and repurchasing 4,455 ETH at $2,459, resulting in a net loss of 142 ETH valued at $353,000. Another related address purchased 4,455 ETH for $10.95 million at $2,458, currently showing a floating gain of $170,000. These activities reflect ongoing volatility and strategic repositioning among major market participants in the BTC and ETH markets.