Oct 13, 2025

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Trader Who Gained $192M Reopens $163M Short on Bitcoin

A trader known for making significant profits has taken a new large short position on Bitcoin as markets recover from recent volatility.

The trader, using the wallet 0xb317 on Hyperliquid, opened a $163 million short position with 10x leverage, already gaining $3.5 million.
This follows a previous successful short before a major announcement by former President Trump that led to a $19 billion drop in crypto market value.
The trader's actions have raised suspicions of insider knowledge, earning the label "insider whale."

Key Features of Hyperliquid

Hyperliquid is a decentralized exchange allowing high-leverage futures trading without centralized intermediaries.
It attracts high-frequency traders and whales due to its deep liquidity and fast execution.
Features like Auto-Deleveraging (ADL) ensure solvency but can exacerbate market selloffs.
Recent ADL events resulted in over 6,000 wallets being affected, losing more than $1.2 billion in trader capital.

The market remains tense as participants evaluate the impact of recent events and potential contagion effects.