A high-stakes crypto trader, known as a “Bitcoin whale,” just pocketed a $3.9 million profit after closing a massive $521 million short position on Bitcoin.
The trader had bet against Bitcoin at $83,898 using 40x leverage—meaning just a 2% price increase to $85,591 would have triggered liquidation. In a dramatic turn, some traders attempted to push Bitcoin’s price past this threshold by injecting $10 million into the market, but their efforts fell short.
Seizing the moment, the whale swiftly exited the short position after Bitcoin dipped, offloading 208.1 BTC in under two minutes.
While the profit was substantial, the risk was equally high. The same trader previously made waves in the market by causing a $4 million loss for Hyperliquid’s liquidity provider through a leveraged Ethereum bet—prompting the platform to tighten leverage limits on both Bitcoin and Ethereum.
Now, in a surprising move, the whale has opened a new $2.7 million long position on MELANIA, a Solana-based meme coin inspired by former First Lady Melania Trump. The crypto community is watching closely—will this bet pay off, or will traders try another squeeze?
