Trader Longed Bitcoin and ETH 50x, Missed Fortune When Closed Before Trump! - Coin Bulletin

A investor made 7 million by opening a 50x long position for BTC and ETH before Trump's crypto reserve announcement, but missed out on millions of dollars in additional earnings by closing early.

A trader trading on the decentralized derivative exchange called Hyperliquid, made a 50x leveraged long position for (BTC) Bitcoin and (ETH) Ethereum, and earned a profit of 7 million dollars before Donald Trump's crypto reserve announcement.

This investor opened a leveraged long position worth a total of 200 million dollars by investing approximately 5.6 million USDC. However, the market showed a decline before Trump's announcement, and the trader's position approached the liquidation limit. If the ETH price had dropped just 54 dollars more, the investor could have incurred over 2 million dollars in losses. However, shortly before Trump's announcement, the market changed direction and started to rise, allowing the trader to make a profit of 7 million dollars within 24 hours.

Did he miss millions?

The trader closed his positions before officially announcing that Trump would include BTC and ETH in his crypto reserves. If he had continued his trades for a few more hours, he could have earned 10 million dollars more.

On the other hand, some analysts suggested that these transactions could be based on insider information as large leveraged positions opened before Trump's announcement were closed in a timely manner with price movements. While speculations continue in the crypto world, it is claimed that the trader has also carried out similar transactions in the past and that their address is linked to funds from phishing sources.