This Crypto Trader Made $160 Million Profit During Trump’s Market Bloodbath
A crypto whale has pocketed over $160 million in earnings after appropriately betting on Bitcoin and Ethereum’s latest value decline.
On October 11, blockchain evaluation platform Lookonchain reported {that a} long-term Bitcoin holder had opened greater than $1.1 billion briefly positions on the highest two cryptocurrencies by market capitalization.
How Bitcoin Crash Made This Trader $160 Million Richer
The dealer successfully wagered that each property would drop in worth regardless of their recent bullish momentum.
Within simply 30 hours, that prediction proved proper—Bitcoin and Ethereum costs fell sharply, incomes the dealer an estimated $160 million in realized revenue.
Following the sell-off, the dealer started closing a lot of the positions, retaining solely 821.6 BTC value about $92 million.
The timing of this transfer has fueled hypothesis about whether or not the whale had early perception into upcoming macroeconomic shifts that triggered the broader market decline.
On Friday, Trump announced a 100% tariff on Chinese imports and new export controls focusing on important software program industries.
The tariff, scheduled to take impact on November 1, spooked buyers in each conventional and crypto markets, sparking widespread sell-offs in risk assets.
According to BeInCrypto information, Bitcoin’s value dropped to as little as $105,262 earlier than recovering to $111,052 as of press time.
Other main property resembling Ethereum, Solana, Dogecoin, and XRP adopted related trajectories. Their sharp declines triggered the best day by day liquidation figures ever recorded.
Indeed, greater than 1.6 million merchants had been liquidated, wiping out $19.31 billion in positions inside 24 hours, based on CoinGlass data.
Long merchants—these anticipating additional value positive factors—absorbed the majority of the losses, totaling $16.82 billion. Short merchants, regardless of the downturn, misplaced a further $2.5 billion.
Bitcoin accounted for $5.37 billion of the whole liquidations, adopted by Ethereum with $4.43 billion. Solana merchants misplaced $2 billion, whereas HYPE and XRP merchants misplaced $890.37 million and $708.24 million, respectively.
Amid the volatility, decentralized exchange Hyperliquid emerged as the most important liquidation venue, dealing with $10.3 billion or about 53% of all liquidations. Bybit adopted with $4.65 billion, whereas Binance and OKX recorded $2.39 billion and $1.21 billion, respectively.
The episode underscores how geopolitical shocks and whale-scale trades can swiftly reshape crypto market dynamics. In such conditions, even seasoned merchants might be uncovered to huge losses or extraordinary positive factors.
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