Crypto Whale Bets Against Bitcoin Again
A prominent crypto derivatives trader, known for making $192 million by betting against the market during a flash crash, has opened another high-stakes position.
Using 10x leverage, the trader's current position shows a $3.5 million profit, but it would be liquidated if Bitcoin (BTC) reaches $125,500.
Trader's Background
The trader, identified by the wallet 0xb317 on the Hyperliquid exchange, gained notoriety for opening a massive short just before former President Trump announced new tariffs on Chinese imports, triggering a $19 billion market liquidation.
Some even speculate the trader may have amplified the recent market cascade.
- Position: $163 million leveraged perpetual contract to short Bitcoin (BTC)
- Leverage: 10x
- Current profit: $3.5 million
- Liquidation price: $125,500
Author's summary: Crypto whale bets against Bitcoin again with high-stakes position.