Crypto Whale Bets Against Bitcoin Again
A prominent crypto derivatives trader, known for making $192 million betting against the market during last week's flash crash, has opened another high-stakes position.
Using 10x leverage, the trader's current position is showing $3.5 million in profit, but would be liquidated if Bitcoin (BTC) climbs to $125,500.
Trader's Background
The trader, identified by the wallet 0xb317, gained notoriety for opening a massive short just 30 minutes 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.
- The trader opened a $163 million leveraged perpetual contract to short Bitcoin (BTC) on Sunday.
- Crypto observers have labeled the entity an “insider whale” due to the seemingly perfect timing.
Author's summary: Crypto whale bets against Bitcoin again with high-stakes position.