Crypto Whale Bets Against Bitcoin Again
A prominent crypto derivatives trader, known for making $192 million betting against the market during a flash crash, has opened another high-stakes position.
The trader, identified by the wallet 0xb317, used 10x leverage to open a $163 million leveraged perpetual contract to short Bitcoin (BTC) on Sunday, currently showing $3.5 million in profit.
- The position would be liquidated if BTC climbs to $125,500.
- The trader gained notoriety for opening a massive short 30 minutes before former President Trump announced new tariffs on Chinese imports, triggering a $19 billion market liquidation.
The entity has been labeled an “insider whale” due to the seemingly perfect timing, with some speculating the trader may have amplified the recent market cascade.
Author's summary: Crypto whale bets against Bitcoin again with high-stakes position.