Someone just made a bold move in the ETH market. A major holder liquidated 1,654 ETH, pocketing $5.49 million in the process. But here's the twist—instead of sitting on cash, they funneled every dollar straight into Hyperliquid.

What happened next? They went all-in with a 7x leveraged long position on 11,543 ETH. We're talking about $38.4 million in exposure. This wasn't a cautious play or a partial hedge. They dumped their spot holdings specifically to amplify their bet through leverage.

The strategy signals serious conviction. Selling spot to open a leveraged long means they're betting on upward momentum hard enough to justify the liquidation risk. Whether this pays off or backfires, it's the kind of aggressive positioning that often precedes significant price action.