A major Hyperliquid trader holding a $600M ETH long position has clawed back to near breakeven, marking a dramatic recovery in recent days. Just one week ago, the position was underwater by almost $50M—but as Ethereum surged past the $3,100 level, the whale managed to capture a stunning $70M in gains from the bottom. This remarkable turnaround highlights both the volatility of large leveraged positions in the crypto market and the profit-taking opportunities that emerge when ETH makes sharp moves. For traders watching whale activity, this recovery serves as a reminder of how quickly market momentum can shift sentiment on major holdings.