Mystery Whale Doubles Down on Bitcoin Short

A whale has doubled down on a new Bitcoin (BTC) short and increased their position. The whale trades on the decentralized derivatives exchange Hyperliquid and has already made $192 million during the recent market crash. According to the on-chain data taken from Hypurrscan, the trader’s position has improved to approximately $496 million with 10x leverage and with a liquidation price of approximately $124,270 per BTC.

The same whale had initially opened the new short with $162 million a day ago and has increased the bet to double down on his aggressive move against the market.

Sign up on Coinflare and deposit 100 USDT or more to receive a 50 USDT futures bonus. New users can claim up to 5,100 USDT in rewards.

Aggressive Market Move Despite Downward Market Sentiment

This latest position continues a series of bold trades by the so-called “insider whale,” a title given by the crypto community after the trader’s mysterious timing. Less than an hour before U.S. President Donald Trump’s tariff announcement last Friday, an event that triggered a sharp market downturn, the same address opened a massive short on Bitcoin. The well-timed entry led to huge profits as prices tumbled in the aftermath.

The trader, who first appeared on analysts’ radar two months ago holding a whopping $11 billion in BTC, has since become one of the most closely watched entities in the crypto space. Just last week, the same wallet opened a combined $900 million in short positions on Bitcoin and Ether, amplifying speculation that they may have access to privileged information.

Blockchain investigators have since been trying to unmask the person behind the wallet. Over the weekend, some linked the activity to Garrett Jin, the former CEO of now-defunct exchange BitForex. Jin appeared to acknowledge a connection after publicly responding to Binance CEO Changpeng Zhao (CZ) on X, stating that while he had “no link to the Trump family,” the funds in question belonged to clients, not him personally.

Whether Jin is indeed the “insider whale” or simply a proxy remains unclear, but one thing is certain: with half a billion dollars riding against Bitcoin, the crypto world is watching closely to see if this enigmatic trader strikes gold again, or gets liquidated trying.

Join Coinflare and make your first deposit of 100 USDT or more to claim a 50 USDT futures bonus. You can also access bonuses of up to 5,100 USDT.