Trader who made $192M shorting the crypto crash is doing it again

A trader identified as a major player in the crypto market has opened a $163 million leveraged short position on Bitcoin, following previous success in netting $192 million during a recent market crash. This trader, who operates on the Hyperliquid decentralized derivatives exchange, gained notoriety for timing their short position shortly before a significant tariff announcement that resulted in a drastic market downturn. Despite a current profit of $3.5 million, the position is at risk of liquidation if Bitcoin reaches $125,500. Observers within the crypto community have speculated about the trader's possible influence on market dynamics, suggesting they may have triggered a large-scale liquidation event. Amid the volatility, another trader took a bullish position with a leveraged long trade, highlighting the contrasting strategies in play during uncertain times. Speculations also arose regarding the role of Binance, with the exchange denying involvement in the market crash but recognizing operational issues during the event.

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