On-chain analysts and traders have dubbed the address an “insider whale.” Some even argue that the position itself could have accelerated the crash.
What to know:
A trader who profited $192 million from last week's crypto downturn has taken a new $163 million short position on Bitcoin.
The trader's previous success has led to speculation of insider knowledge due to the timing of the Trump tariff announcement.
Hyperliquid, a decentralized exchange, is favored by high-frequency traders for its liquidity and execution speed, but its safety mechanisms can exacerbate market selloffs.
A trader who pocketed $192 million shorting BTC ahead of last week’s crypto wipeout has reloaded with a large bearish position as markets attempt to recover from the Trump tariff shock.
The wallet, identified as 0xb317 on the decentralized derivatives platform Hyperliquid, opened a new $163 million short position on bitcoin late Sunday, data from Hypurrscan shows. The position is 10x leveraged and already $3.5 million in profit in Asian afternoon hours with a liquidation level of $125,500.
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