A crypto derivatives whale, previously credited with banking $192 million off a perfectly timed short, has returned this time opening a fresh $163 million short on Bitcoin.
Key Takeaways:
- The wallet address 0xb317 (dubbed the “insider whale”) placed a 10× leveraged perpetual short on BTC worth $163 million on Hyperliquid.
- That position is currently showing ~$3.5 million in unrealized profit, but faces liquidation if BTC rallies to ~$125,500.
- This move follows the trader’s prior $192 million gain from a short opened just before volatility tied to U.S. tariff news, where theories of insider positioning or market timing advantages emerge.
On Sunday, the pseudonymous trader using address 0xb317 opened a massive short position on Bitcoin via Hyperliquid, a decentralized derivatives venue. The position, sized at $163 million with 10× leverage, immediately drew attention because of its sheer scale and the address’s history.
That address previously made headlines when it placed a short just 30 minutes before the U.S. announced new tariffs timing that coincided with a crypto market plunge and allowed it to capture ~$192 million in profit. Crypto observers have since labeled the account an “insider whale” because the precise timing fuels speculation about access to privileged information or triggering market moves.
According to public on-chain/perps data, the new short is already showing about $4.6 million in unrealized gains, though the position carries risk. If Bitcoin’s price reaches $125,500, the short would face automatic liquidation.
Trader’s unrealized PnL on the BTC short during the snapshot window. Source: Hypurrscan
Market Reacts to Whale’s Massive Short
The crypto community has responded with intrigue and suspicion. Some observers suggest the whale might have had a role in exacerbating market moves, either by triggering cascade liquidations or front-running volatility. As one commentator put it:
The crazy part is that he shorted another nine figures worth of BTC … imagine what he did on CEXs or elsewhere.
Traders on both centralized and decentralized platforms are closely monitoring derivatives positions, funding rates, and open interest for signs of spillover effects. Smaller investors appear hesitant to enter long positions, while some leveraged traders are opening counter-bets to capitalize on potential short-term volatility. Overall, the whale’s move has injected a sense of heightened alertness in the market, influencing sentiment and trading behavior beyond Bitcoin itself.
Bitcoin Bounces Back Above $114K
At the time of writing (1:30PM UTC), Bitcoin (BTC) is trading at approximately $114,423, gaining 2.8% over the past 24 hours, which is a price rebound after a sharp sell-off driven by U.S.–China trade tensions and leveraged liquidations.
Traders are closely monitoring Bitcoin's price action, as a failure to maintain levels above $115,000 could lead to renewed selling pressure. Conversely, a sustained move above this level may encourage further buying interest.
Outlook: Traders Eye Bitcoin’s Next Move as Whale Short Looms
Bitcoin’s near-term direction is under close watch after the “insider whale” opened a $163 million short. Traders are monitoring for potential volatility, as leveraged positions can trigger ripple effects across derivatives markets. A sustained move above $115,000 could reignite buying, while failure to hold may spur renewed selling, making the next day or two critical for the market’s trajectory.
Summary
A well-known address (0xb317) that reportedly profited $192M from a prior short has opened a new $163M 10× BTC short on Hyperliquid. Unrealized gains are accruing, but a rally toward ~$125.5K risks liquidation. Markets remain alert as derivatives positioning guides short-term price action.
