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🚨 Bottom Fishers Step In as $SKHX Extends Losses Following SK Hynix's earnings release, selling pressure continued, with the Hyperliquid SKHX contract trading around $969.93, down roughly 11% over the past 24 hours. Within an hour of the sharp decline, five separate whale-sized long positions were opened, reopened, or flipped bullish: • 8,419.75 SKHX contracts accumulated • Total position value: ~$8.17M • Weighted average entry: $981.15 Price has since slipped below the whales' average entry, leaving the combined positions with approximately $95,000 in unrealized losses. The closest liquidation level sits near $930.62, around 4.1% below the current price. Funding data also shows aggressive dip-buying. The hourly funding rate fell to -0.0855% before the earnings release but quickly flipped positive, with the latest estimate at 0.0373%. At that rate, a $1M long position pays roughly $373 per hour to shorts. The message is clear: traders are rushing to buy the dip, but despite increasingly crowded long positioning, the market has yet to show a convincing reversal. #FedRateDecision #BigTechEarningsNight