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Bitcoin Holding Strong, Yet Trump Insider Opens Massive $120M Short Position – New Crash Coming?

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A dealer dubbed “Trump’s insider” opened a $120-127 million Bitcoin quick place at $111,386 forward of an anticipated presidential announcement Tuesday, sparking fears of one other market crash.

Social media erupted with warnings that the whale, who maintains a 100% win price, may set off the identical devastation witnessed throughout October 11’s $19 billion liquidation occasion.

The dealer gained notoriety after opening over $1.1 billion in shorts against BTC and ETH simply earlier than President Trump introduced 100% tariffs on Chinese imports, producing an estimated $160-200 million in earnings as Bitcoin plunged from $122,000 to beneath $102,000.

Back then, blockchain monitoring agency Lookonchain identified the pockets as belonging to a “Bitcoin OG” who held 86,000 BTC from 2011.

Multiple experiences declare the dealer opened shorts starting from $120 million to $600 million throughout BTC, ETH, and SOL forward of Trump’s 3 PM ET announcement.

The exact timing, simply as through the tariff crash, fueled accusations of insider buying and selling and market manipulation.

Bitcoin presently stands at round $112,000, regardless of the bearish market positioning.

Bitcoin Holding Strong, Yet Trump Insider Opens Massive $120M Short Position – Who Wins Again?
Source: TradingView

However, the dealer’s earlier success closing 90% of shorts at precise market bottoms has crypto traders on high alert, with many questioning whether or not one other crash is coming.

Original Whale Trade Generated $200M as Markets Collapsed

The October 11 commerce established the whale’s popularity for prescient market timing.

Lookonchain knowledge shows the dealer deposited 80 million USDC into Hyperliquid beginning October 9, adopted by further deposits totaling tens of tens of millions all through the week.

The whale’s positions included a 10x leveraged quick on 6,189 BTC, valued at $752.9 million, with a liquidation value of $130,810, and a 12x leveraged quick on 81,203 ETH, price $353.1 million, with a liquidation value of $4,589.

The dealer doubled down on shorts simply half-hour earlier than Trump’s tariff announcement.

On-chain analyst @mlmabc reported the whale closed roughly 90% of Bitcoin shorts and utterly exited Ethereum positions on the backside, pocketing between $190 million and $200 million in realized earnings inside a single day.

The market collapse triggered over 1.66 million liquidations in 24 hours, wiping out $19.33 billion in positions, in keeping with knowledge from CoinGlass.

However, Mlmabc argued that “the true quantity is probably going a lot greater, someplace within the $30B-$40B+ vary.”

The whale’s identification traces again to the 2011 accumulation of 86,000 BTC. Records present that he offered 35,991 BTC, price $4.43 billion, beginning on August 20 to buy 886,371 ETH, valued at $4.07 billion.

Fresh Bearish Bets Multiply as Other Whales Join Short Campaign

On October 14, the same trader opened a 3,440 BTC short position worth $392.67 million at $115,783.

Currently, the place is sitting on a $5.7 million unrealized revenue, with a liquidation threshold of $128,030.

About $80 million in USDC was bridged into Hyperliquid to fund the place.

Other heavy hitters joined the bearish marketing campaign.

Whale 0x9eec9 holds $98 million in shorts throughout DOGE, ETH, PEPE, XRP, and ASTER. Whale 0x9263 wagers $84 million in opposition to SOL and BTC.

Meanwhile, earlier immediately, a dormant Bitcoin wallet transferred 2,000 BTC, price roughly $222 million, into 51 new addresses.

The cash break up throughout a number of wallets haven’t reached alternate addresses, suggesting custodial reshuffling somewhat than promoting intent.

The whales transfer, and their precision has drawn criticism on the Trump rings.

The Trump household’s crypto empire has now generated approximately $1 billion in pre-tax gains over the previous yr from memecoins, stablecoins, and DeFi platforms, in keeping with a Financial Times investigation.

The TRUMP and MELANIA cash generated round $427 million, whereas WLFI token gross sales fetched roughly $550 million.

Private traders poured billions into Trump-backed ventures, with Chinese entrepreneur Justin Sun investing $75 million in WLFI.

Abu Dhabi’s MGX reportedly offered $2 billion to Binance utilizing a USD 1 stablecoin backed by U.S. Treasuries, which has raised $2.71 billion.

All of those have elevated the household’s wealth and web price.

The submit Bitcoin Holding Strong, Yet Trump Insider Opens Massive $120M Short Position – New Crash Coming? appeared first on Cryptonews.

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