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 position is currently showing $3.5 million in profit, but would be liquidated if BTC climbs to $125,500.
- The trader, known by the wallet 0xb317, opened a $163 million leveraged perpetual contract to short Bitcoin (BTC) on Sunday.
- This whale gained notoriety after opening a massive short just 30 minutes before former President Trump announced new tariffs on Chinese imports.
Some even speculate the trader may have amplified the recent market cascade.
Crypto observers have labeled the entity an “insider whale” because of the seemingly perfect timing.
Author's summary: Crypto whale bets against Bitcoin again after making $192M.
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