Crypto Whale Shorted $450 Million Worth of Bitcoin, Community Takes Action!

Jakarta, Pintu News – A crypto whale recently made headlines after initiating a short position on Bitcoin (BTC) with a value of up to $450 million on the Hyperliquid platform. This incident sparked action from the crypto community to stop what they perceived as an action that could harm the ecosystem.

On March 17 at 06:30 UTC, the whale closed two positions via Time-Weighted Average Price (TWAP) for 208 BTC at $83,392 per BTC. This transaction’s total value was over $18 million.

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Strategy and disadvantages

At 04:30 UTC, this anonymous trader added $7.5 million in collateral to their short Bitcoin (BTC) position to avoid liquidation by margin on Hyperliquid. On-chain data shows this trader has lost nearly $1.1 million in unrealized gains and losses, or PNL.

Despite this, this whale still managed to make a profit. Currently, the trader’s position is at 5,167 BTC, worth around $429 million, and his short position is leveraged 40x with an unrealized profit of $4 million.

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Long Position and Defensive Tactics

In addition to the short position, this trader also has a long position on Melania (MELANIA) with 5x leverage worth $390,000. This position shows the whale’s diversified strategy to maximize potential profits and minimize risks.

These long positions may serve as a hedge against aggressive Bitcoin (BTC) short positions. By combining these two strategies, the whale demonstrates expertise in portfolio management and a deep understanding of market dynamics.

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Community Reaction and Impact

This whale first initiated a large short position on Bitcoin (BTC) on March 16. A crypto trader on X with the username @Cbb0fe or CBB immediately detected this suspicious activity and called on other traders to join the public hunt to liquidate the whale’s position before it could cause further harm to the ecosystem.

This initiative shows how the crypto community can move quickly to address potential threats that could destabilize the market. It also highlights the importance of transparency and caution in crypto trading.

Conclusion

This incident provides an important lesson about risk and strategy in crypto trading. Although the whale managed to secure profits, this situation shows how quickly the crypto community reacts to significant changes in the market. It also emphasizes the importance of risk management and a good trading strategy to survive in a highly volatile and unpredictable crypto market.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto News. A Whale Is Being Hunted Down for Short Positioning Over 5400 BTC with 40x Leverage. Accessed on March 18, 2025
• Featured Image: Generated by AI