Trader Who Netted $192M Returns With Another Massive Bet Against BTC

A trader known for one of the most profitable crypto shorts of the year is back in action, reigniting speculation about insider moves behind recent market turmoil.

Blockchain trackers spotted the same address – active on decentralized exchange Hyperliquid – opening a new $163 million short position against Bitcoin late Sunday. The trade, using 10x leverage, quickly showed several million dollars in paper gains as Bitcoin slipped, though it faces liquidation if prices climb back toward $125,000.

The trader first drew attention last week after placing a huge short moments before Donald Trump’s tariff announcement sent markets into freefall. That position reportedly earned nearly $192 million, sparking rumors of privileged information and possible manipulation.

On-chain analysts suggested the same player may have deepened the selloff by shorting additional Bitcoin and Ethereum during the crash, a move that coincided with one of the largest liquidation waves in Hyperliquid’s history.

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While bearish sentiment dominated, some traders saw opportunity. One bold investor reportedly went long $11 million on Bitcoin with heavy leverage, hoping to catch a rebound after the chaos.

The sharp volatility has once again drawn attention to the lack of oversight in crypto trading. Critics say such events highlight the risks of unregulated markets, where major players can move billions with little transparency.

Meanwhile, Binance found itself under scrutiny after traders complained of failed orders and forced liquidations during the crash. The exchange denied any technical failures but pledged $283 million in compensation for users impacted by depegged collateral assets.

Adding to the broader turmoil, U.S. political uncertainty is weighing on sentiment. President Donald Trump’s approval rating dropped to 40% amid a government shutdown and growing criticism of his policies. His pro-crypto stance, once praised by digital asset supporters, is now drawing fresh ethical questions from lawmakers.