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Mysterious Whale Doubles Down
A mysterious trader on the decentralized exchange Hyperliquid is raising eyebrows once again — doubling down on their Bitcoin short worth nearly $500 million.
According to data from Hypurrscan, the whale now holds a $496 million short at 10x leverage, signaling a firm bearish outlook on Bitcoin’s price.
The trader, dubbed the “insider whale” by the crypto community, first caught attention by profiting $192 million during the recent market crash. Now, they’re back — with an even bigger, bolder bet.
Massive Bet on Bitcoin
Over the last two days, the whale’s position has grown from $163 million to $496 million, doubling in size as Bitcoin trades around $111,840.
At 10x leverage, the position faces a liquidation price of $124,270, showing the trader’s conviction that BTC prices will move lower in the short term.
The move follows an earlier $900 million short the same investor placed on Bitcoin and Ethereum, intensifying speculation that the trader may have inside knowledge or advanced market insights.
Timing Raises Eyebrows Again
The whale became infamous after opening a large short position less than an hour before U.S. President Donald Trump’s tariff announcement, which led to a sudden market downturn.
The perfectly timed trade sparked widespread speculation that the trader may possess insider information — hence the name “insider whale.”
This latest position only strengthens that theory, as the market remains volatile ahead of major macroeconomic and policy developments.
Garrett Jin Connection Speculated
Blockchain sleuths have been digging deep to uncover the identity behind the whale. Over the weekend, several researchers pointed to Garrett Jin, former CEO of the now-defunct BitForex exchange.
One researcher known as “Eye” first connected the dots, which led Binance CEO CZ to share the claim on X (formerly Twitter), asking for clarification.
Jin later responded publicly, denying any wrongdoing:
“I have no connection with the Trump family — this isn’t insider trading,” Jin posted on X.
He later added that “the fund isn’t mine — it’s my clients’. We run nodes and provide in-house insights.”
Still, the crypto community remains unconvinced, keeping the mystery — and speculation — alive.
Market Watches Closely
The trader’s aggressive bearish positioning has made them one of the most-watched wallets in crypto. Analysts warn that such a massive short could create high volatility if Bitcoin’s price moves sharply upward.
Whether this whale is a brilliant strategist, a lucky speculator, or an insider, their moves continue to shake the crypto world, drawing intense scrutiny from both investors and regulators alike.
Summary:
The Hyperliquid “insider whale” is once again making headlines — doubling a massive Bitcoin short to nearly $500 million amid growing insider-trading speculation.