Crypto trader opens a record short on BTC

An influential cryptocurrency trader has set a new market record by opening a short position on Bitcoin BTC $83,346.01 Bitcoin -0.72% Market capitalization $1.65 trillion VOL. 24 hours $0.97 billion with a total value of $ 517 million. According to the Spot On Chain analytical service, the investor sold 6,211 BTC through the Hyperliquid platform at an entry price of $ 83,898. Such a large-scale bet instantly attracted the attention of market participants, as the size of the position could potentially affect the further movement of the cryptocurrency price.

At the time the position was discovered by analysts, the trader had an unrealized profit of about $ 5.95 million. However, his bet is at significant risk — if the price of Bitcoin rises to $ 85,557, which is only 2.9% higher than the current level, the entire position will be liquidated. This case clearly demonstrates how risky leveraged transactions are in the cryptocurrency market.

A cryptocurrency observer with the nickname That Martini Guy ₿ expressed the opinion that this trader is unlikely to act without a deep understanding of the market situation. According to him, «whales are not stupid,» and it is quite possible that the player has a hidden long position on other exchanges that no one can see. Therefore, a public short bet may be only part of a more complex trading strategy.

Against the backdrop of these events, Bitcoin reached an intraday high of $ 84,700, after which the price fell back to $ 83,000 due to massive profit-taking by traders. Over the past day, total liquidations in the market amounted to $ 182 million, with more than half of this amount coming from short positions.