In accordance with Cryptonews, a trader known for profiting $160M by shorting Bitcoin and Ethereum before the recent crash has reopened a 3,440 BTC short position worth $392.67M. The trader, dubbed a 'Trump insider' in crypto circles, entered the position at $115,783 with a liquidation threshold of $128,030. Around $80M in USDC was moved to Hyperliquid to fund the bet, signaling a bearish outlook. Other major players on the platform are also placing large short positions against multiple assets, including DOGE, ETH, and SOL. The move has raised questions about whether it is an attempt to pressure the market or shake out weak longs.
Crypto Trader Adds $392M BTC Short Position Amid Market Recovery
CryptonewsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.