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.
Using 10x leverage, the trader's current position shows $3.5 million in profit but would be liquidated if Bitcoin (BTC) reaches $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 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, earning the label "insider whale" due to the seemingly perfect timing.
Author's summary: Crypto whale bets against Bitcoin again after making $192 million.
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