- A BTC whale opened a $234M short at $123K liquidation price on Hyperliquid.
- The same trader earned $200M after October 10’s market drop.
- Whale deposited 5,252 BTC to exchanges since the market crash.
A well-known Bitcoin whale has re-entered the market with a $234 million short position through Hyperliquid, according to Arkham data. The trader previously made $200 million by shorting BTC before the market reacted to new China tariffs announced by former President Donald Trump on October 10.
The timing of the previous trade raised questions about possible insider knowledge, as it occurred just minutes before the news became public.
The current short position has a liquidation price of $123,000 and was opened while Bitcoin traded near $108,500. The position is reportedly 10x leveraged and shows an unrealized gain of around $6.8 million at the time of reporting.
Arkham stated on social media, “The $10B Hyperunit Whale who made $200M shorting the China Tariff Crash just DOUBLED DOWN on his BTC short position.”
Hyperdash, a blockchain data platform, confirmed that the whale is maintaining a 700 BTC short, and has gradually increased the size over several days. The trader used the wallet address 0xb317 to move $30 million USDC to Hyperliquid prior to initiating the short.
Whale Activity Sparks Debate Among Traders
Market attention has returned to the whale’s activity, especially after the prior short occurred just 30 minutes before the tariff news. Although there are no formal accusations, traders online are questioning the repeated timing of these large short positions. Some suspect access to private information due to the profitable and early nature of the positions.
Blockchain data from Lookonchain showed that the trader deposited 5,252 BTC, worth nearly $588 million, into exchanges like Binance, Coinbase, and Hyperliquid following the market crash. This may indicate ongoing bearish sentiment and preparation for more selling activity.
While the short bet suggests expectations of a further drop in BTC prices, other market participants see potential for a rebound. Bitcoin recently recovered to $114,000 before stabilizing around $108,000. Analysts are watching closely as bulls and bears prepare for the next move.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
