Trump Insider Whale Increases Bitcoin Short Position to $340 Million
A whale trader known as "Trump Insider Whale" has increased their short position on Bitcoin to $340 million amid market fluctuations. Arkham Intelligence revealed that this trader previously shorted $700 million of BTC and $350 million of Ethereum, making a $200 million profit during the October 10 market crash.
- The trader recently deposited $40 million in USDC to HL and shorted another $127 million in BTC, maintaining an unrealized PnL of $5 million.
- This activity coincides with Bitcoin's price increase of 2.36% to $111,584.26, alongside a $2.22 trillion market capitalization and $79.27 billion trading volume.
Crypto Market Liquidation
The cryptocurrency market experienced a $624.41 million liquidation within 24 hours, affecting 213,938 traders. The largest single liquidation order was from OKX.
- Digital currencies like BTC, ETH, SOL, DOGE, and XRP were impacted.
- Ethereum long traders faced $107.77 million in liquidations, while short traders saw $79.81 million in losses.
- Bitcoin followed with $125.98 million in liquidations, with long traders losing $95.79 million.
If current trends persist, the Trump Insider Whale may further capitalize on market conditions.