Trump Insider Whale Holds $340 Million in Short Position on Bitcoin

Key Notes

  • Arkham Intelligence spotted a trader who is now short $340 million on Bitcoin.
  • The whale had earlier made a profit of $200 million after shorting $700 million of BTC and $350 million of ETH.
  • A while ago, short traders made a profit from the $624.41 million liquidation in the crypto market.

Amid the fluctuation in Bitcoin

BTC
$110 813



24h volatility:
3.8%


Market cap:
$2.20 T



Vol. 24h:
$75.48 B

price, one whale trader called “Trump Insider Whale” has increased their short position.

According to Arkham Intelligence, the trader is now short $340 million on BTC. On X, the blockchain analytics platform shared details of the series of transactions that the trader carried out earlier.


Trump Insider Whale Trader Records $200 Million Profit

Arkham noted that the whale had previously shorted $700 million of BTC, after which he did the same with $350 million of Ethereum

ETH
$3 951



24h volatility:
3.7%


Market cap:
$475.68 B



Vol. 24h:
$51.20 B

.

Both transactions happened right before October 10’s market crash, which led to the wipeout of over $19 billion from the crypto market. As a result of the bear market, the whale trader made around $200 million in profits.

Onchain data shows he “just deposited $40M USDC to HL and shorted another $127M $BTC,” while maintaining “an unrealized PnL of $5M.” As it stands, the whale trader has increased their short position on Bitcoin to $340 million.

The timing of the trades has triggered some speculations, with many suspecting the possibility of insider information.

So far, no one has been able to confirm the speculations, but it comes at a time when Bitcoin price is at $111,584.26, corresponding with a 2.36% increase within the last 24 hours.

Its market capitalization and 24-hour trading volume are equally trying to recover at $2.22 trillion and $79.27 billion, respectively.

Crypto Market Liquidation Hits $624.41 Million

Meanwhile, the broader cryptocurrency market recently recorded a massive liquidation of $624.41 million. Within 24 hours, about 213,938 traders were liquidated, with the largest single liquidation order coming from OKX.

Several digital currencies, including BTC, ETH, SOL

SOL
$193.3



24h volatility:
0.1%


Market cap:
$105.43 B



Vol. 24h:
$13.28 B

, DOGE

DOGE
$0.20



24h volatility:
4.8%


Market cap:
$29.66 B



Vol. 24h:
$4.77 B

, XRP

XRP
$2.42



24h volatility:
5.8%


Market cap:
$144.39 B



Vol. 24h:
$7.70 B

, and several others, were impacted by the market pivot.

In this case, short traders were in profit while the long traders suffered massive losses. For instance, Ethereum long traders’ liquidations were pegged at $107.77 million, and short traders recorded only about $79.81 million losses.

Also, Bitcoin liquidation followed closely at $125.98 million, with long traders suffering a major loss of $95.79 million.

If this trend continues, the Trump Insider Whale could be gearing up to earn even more profit.

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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Hamza Tariq

Hamza is an experienced crypto editor/writer with a deep understanding of blockchain technology, cryptocurrency markets, and digital finance. He is passionate about making complex topics accessible and helping readers navigate the fast-evolving world of crypto.

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Source: https://www.coinspeaker.com/trump-insider-whale-holds-340-million-in-short-position-on-bitcoin/