Crypto Whale Takes $445M Bitcoin Short While Betting on MELANIA Token
Bitcoin (BTC) has remained stable since last Tuesday, rebounding above $84,000 over the weekend. However, a crypto whale has taken a contrarian approach, placing a heavily leveraged short position on BTC while simultaneously going long on the MELANIA token.
According to data from Hyperliquid and Lookonchain, the whale’s BTC perpetual futures short is valued at over $445 million, with an unrealized gain of $1.3 million. The position is leveraged at 40x, with a liquidation price set at $86,000.
The massive short position quickly gained attention on social media platform X, where pseudonymous trader CBB attempted to rally a group of traders to force the whale’s liquidation.
“11 hours ago, @Cbb0fe publicly formed a team to hunt this whale who shorted BTC with 40x leverage. Just one hour later, the team was in action, pushing BTC above $84,690 in a short period,” blockchain analytics firm Lookonchain reported.
As BTC’s price rose, the whale was forced to deposit $5 million USDC to increase margin and avoid liquidation. However, the coordinated effort to liquidate the short ultimately failed.
Meanwhile, the whale also holds a 5x leveraged long position in MELANIA perpetual futures, speculating on a price increase for the memecoin. Reports suggest that MELANIA is being marketed by MKT World LLC, a Florida-based company owned by Melania Trump, the wife of U.S. President Donald Trump.
Hyperliquid Highlights Transparency in Crypto Trading
The trading platform Hyperliquid responded to the events on X, emphasizing how its transparency sets it apart in the market.
“When a whale shorts $450M+ BTC and wants a public audience, it’s only possible on Hyperliquid. When headlines say ‘Bitcoin Market on Edge,’ they are equating ‘Hyperliquid’ with the ‘market.’ No one can question a Hyperliquid position, just like no one can question a Bitcoin balance. The decentralized future is here,” the platform stated.
Hyperliquid made headlines last week after an influential trader exploited a “liquidation arbitrage” strategy, extracting floating profits and causing a margin shortage. This led to forced liquidations and transferred risk to the platform’s HLP vault.
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