According to Hyperliquid block explorer Hypurrscan, the whale’s BTC position is valued at $496 million with 10x leverage. The trade was opened at $111,831 per Bitcoin, with a liquidation price of $124,270. The position initially started at $163 million and was later increased by more than double.

High-Risk Moves in Bitcoin and Ether

Last week, the whale executed a total of $900 million in short positions on BTC and Ether. This aggressive move sparked significant speculation among crypto investors. Additionally, the whale first drew attention two months ago with $11 billion worth of BTC.

Interestingly, the whale opened its position just before U.S. President Donald Trump announced new tariffs. This timing fueled community speculation that the short trade may have been based on insider information.

Speculations About the Whale’s Identity

The owner of the wallet has not been officially verified. However, blockchain researchers suggested a possible link to Garrett Jin, former CEO of the now-defunct crypto exchange BitForex. Crypto analyst Eye claimed that Binance CEO shared the topic on X because of Jin, though other researchers believe it might involve someone close to him.

Jin addressed the rumors, stating:

• “@cz_binance, thank you for sharing my personal information. But I need to clarify that I have no connection with the Trump family. This is not insider trading.”

• “I have no connection with the Trump family or Donald Trump Jr.; this is not insider information trading.”

• “The funds are not mine but belong to my clients. We manage the nodes and provide internal insights for them.”

While these statements partially calm the speculation, volatility in the crypto market continues.

Summary of the Whale’s Position

• Trade Type: Bitcoin short

• Leverage: 10x

• Initial Amount: $163 million → later increased to $496 million

• Liquidation Price: $124,270 per BTC

• Market Impact: Short-term volatility on Bitcoin, Ether, and other crypto assets

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