A trader established bullish bets in major cryptocurrencies on Monday as the crypto market declined, liquidating leveraged positions worth $1.5 billion.

An address labelled "0x50dE6ef4D11B263DC2e4547602E963355E17dC81" deployed $15 million in USDC on Hyperliquid, taking positions across bitcoin (BTC), solana (SOL), Hyperliquid's HYPE (HYPE) token, and PUMP, according to blockchain sleuth Lookonchain.

This sizable bet highlights how some market participants are positioning themselves to capitalize on potential market rebounds, viewing the pullback as a prime buying opportunity rather than a sign of sustained downturn.

The cryptocurrency market has come under pressure in the past 24 hours, with Bitcoin falling over 2% below $113,000, a move that has seen its market value drop to $2.25 tril

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