Whale Believed To Be A “Trump Insider” Opens $76M Bitcoin Short With 10X Leverage
A crypto whale that has been dubbed a “Trump insider” after opening a short just before the recent crypto market flash crash has opened another position, betting $76 million in a 10x-leverage short that BTC’s price will drop.
That was after Onchain Lends said on X that the “Bitcoin OG” deposited $30 million USD Coin (USDC) into the Hyperliquid platform earlier today.
According to Hypurrscan data, the whale opened a short with over 700 BTC at an entry price of $109,133.10. However, the price of Bitcoin has climbed since then, with the whale sitting on an unrealized loss of more than $1.27 million on his short position. There is, however, still a reasonable gap between the current Bitcoin price and the trade’s liquidation price of $150,080.
Whale’s Perfect Timing Raised Suspicions Of Insider Trading
The trader first gained attention in the crypto space after reportedly earning $160 million by shorting Bitcoin just before US President Donald Trump’s 100% tariff threat to China sent shockwaves through the financial markets. The timing of the bet against the market sparked debate online over whether the whale’s move was due to instincts or insider info.
With the new position, the crypto community is subsequently on high alert and watching out for signs of a potential broader crypto market pullback.
The new trade comes just as the crypto market was showing signs of recovery. Bitcoin and Ethereum have climbed over 3% and 2%, respectively, in the past 24 hours, data from CoinMarketCap shows.
Top ten cryptos by market cap (Source: CoinMarketCap)
Despite the recent gains, the two crypto market leaders are still in the red on the longer-term weekly time frame.
The rest of the top ten cryptos by market cap have also gained in the past 24 hours. During this period, meme coin Dogecoin (DOGE) posted the biggest gain of more than 4%. The overall crypto market cap has also risen over 2% in the past 24 hours, but has been unable to recover to above $4 trillion, where it stood prior to the flash crash.
That’s likely due to the “fear” in the crypto market. According to the Crypto Fear & Greed Index, which is a popular tool to gauge investor sentiment in the market, investors are a lot more bearish than they were leading up to the flash crash.
Other Whales Remain Bearish
Recent trade activity from other whales suggests that large investors are also not convinced by the recent rise in crypto prices. According to Lookonchain, two whales “still seem bearish.”
One whale, “0x8c58,” deposited 5.83 million USDC to Hyperliquid a few hours ago to open a 20x short position on 1,500 Ethereum (ETH), worth $6.06 million.
Meanwhile, another whale, “0x939f,” deposited 4.5 million USDC to Hyperliquid in the past 24 hours. According to Lookonchain, this whale then added to his Bitcoin short position. The trader also proceeded to short Solana (SOL), XRP and ETH.
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