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.
- The trader, identified by the wallet 0xb317, opened a $163 million leveraged perpetual contract to short Bitcoin (BTC) on Sunday.
- This entity 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 has been labeled an "insider whale" due to the seemingly perfect timing of their trades.
Author's summary: Crypto whale bets against Bitcoin again after making $192 million.