Evaded, the trader known on X as @ICanPlug, closed all HYPE, ZEC and ETH long positions for a combined $4.6 million profit before flipping into a large Bitcoin short.
The latest Lookonchain-tracked update shows Evaded moving from one of the strongest altcoin momentum trades of the week into a bearish BTC position. The trader now holds a 990 BTC short worth about $74.84 million, with roughly $783,000 in unrealized profit at the time of the update.
The shift is notable because it follows a rapid run of profitable longs. Less than four days earlier, Evaded was up more than $7.5 million from long positions on 36,875 ZEC worth about $24.15 million and 287,618 HYPE worth about $20.94 million. He later added another 25x long on 18,100 ETH, worth about $38.63 million, while the broader market was still rewarding high-beta altcoin trades.
The open position can be tracked through Evaded’s HypurrScan perps address, where the wallet’s Hyperliquid activity has become a live market signal for traders watching large leverage flows.
The rotation changes the short-term tone. Evaded did not simply take profit and step aside. He closed winning altcoin longs, then expressed a directional bearish view on Bitcoin through a large short. That makes the trade a cleaner risk-on to risk-off rotation rather than only a profit-taking event.
The move arrives as the tokens behind Evaded’s winning longs cool from their recent highs. HYPE is trading near $55.66, down about 3.5% over 24 hours but still up roughly 29.1% over seven days. Its latest 24-hour range stretched from about $54.30 to $61.73, close to the same zone where HYPE’s $100 prediction odds and breakout debate have kept traders focused on upside targets.
ZEC is trading near $599.81, down about 8.8% over 24 hours while still up 18.5% over seven days. The privacy coin is now below the $700 to $730 resistance band highlighted in the latest Zcash breakout setup, making Evaded’s closed ZEC long look well-timed after the rally started losing force.
ETH is trading near $2,065, down about 3.4% over 24 hours. The token remains under pressure from ETF outflows, weaker sentiment and the broader Ethereum confidence debate, which has already pulled attention toward ETH’s low-$2,000 support area.
Bitcoin is the new center of the trade. BTC is trading near $75,540, down about 2.9% over 24 hours and close to the lower end of its $75,200 to $77,763 daily range. That puts Evaded’s 990 BTC short into a market already dealing with ETF outflows, exchange-deposit pressure and weak risk appetite.
The trade gives Bitcoin a clear leverage level to watch. A continued move below $75,000 would keep Evaded’s short in profit and could add pressure if other traders follow the same rotation out of altcoin longs into BTC downside. A sharp reclaim of the $77,000 to $78,000 zone would put the short under pressure and raise the risk of a squeeze.
The size also matters for market psychology. A $74.84 million BTC short from a trader who just banked millions on HYPE, ZEC and ETH will draw attention across Hyperliquid order books, especially because the market has already been sensitive to Bitcoin’s $77,000 range and exchange-linked selling pressure.
The trade is not a market guarantee. Large leverage positions can change quickly, and unrealized profit can disappear if Bitcoin reverses. It does, however, show how fast positioning has shifted after a strong altcoin run. Evaded took profit on the winning side of the tape and moved the risk into BTC downside.
Bitcoin’s next move now decides whether the trade becomes a clean rotation signal or a short-lived hedge. Holding below $76,000 keeps the pressure on bulls. A deeper move through $75,000 would validate the short. A fast push back above $78,000 would turn the position into fuel for a possible squeeze.
The post Evaded Banks $4.6M From HYPE, ZEC And ETH Longs, Then Shorts Bitcoin appeared first on Crypto Adventure.
