A crypto whale just raked in a staggering $9.46 million profit in mere hours by betting against Bitcoin. The trader opened a massive short position of 6,210 BTC at an entry price of $84,043, using a jaw-dropping 40x leverage. That’s over $516 million in position value. Bold move. Or crazy. Depends who you ask.
The high-stakes gamble was executed on Hyperliquid, a decentralized exchange where this whale has been making waves. Not their first rodeo either—they previously caused a $4 million loss for Hyperliquid Provider and have made $9.37 million in less than a month. Some people just have all the luck.
Timing is everything. The trader placed the bet ahead of the FOMC meeting, with February’s U.S. CPI coming in at 2.8%, below the expected 2.9%. There was a 99% probability of the Fed keeping interest rates unchanged. The meeting would likely impact risk assets like Bitcoin and potentially drive price action. With the upcoming Bitcoin halving in April 2024 set to reduce mining rewards to 3.125 bitcoins, market volatility was already expected. Guess they knew something. Or just got lucky.
The risk was astronomical. The liquidation point sat at $85,592—just a 2% price increase would’ve wiped them out. Talk about living on the edge. This cross position risked the majority of their portfolio.
Dancing on a financial razor’s edge—one market hiccup away from total portfolio annihilation.
When a group of traders led by someone called Cbb0fe tried to trigger liquidation by pumping over $10 million into Bitcoin, our whale added another $5 million to their position. The entire drama unfolded quickly as the whale managed to close positions completely in under two minutes. Nice try, folks.
The failed liquidation hunt became the talk of crypto social media. Meanwhile, Bitcoin’s selling pressure eased, potentially signaling a bullish turn for both Bitcoin and Solana. Trading volumes exploded—Binance Futures and OKXFUN saw a 260% boost to $107 million.
Not content with one massive win, the trader has already moved on. They’ve accumulated over 3,200 ETH worth $6.1 million and opened a $2.7 million long position on MELANIA—a Solana meme coin of Melania Trump—with 5x leverage. The whale just keeps swimming. And winning.
