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- Whale’s short position now totals $496M at 10x leverage.
- Identity likely linked to Garrett Jin, but funds belong to clients.
- Market volatility expected due to massive bearish bet.
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A mysterious Hyperliquid whale has intensified its bearish stance on Bitcoin, expanding a massive short position to nearly $496 million over the past two days. With 10x leverage, the position carries a liquidation price of $124,270, sending ripples through the crypto community and raising questions about who is behind these high-stakes moves.
Aggressive Short Betting Amid Market Volatility
The whale initially opened a $163 million short position, which has more than doubled within 48 hours. This bold move follows a series of large-scale shorts totaling $900 million in both Bitcoin and Ether over the past week. Market watchers have been closely monitoring the activity, noting that the whale’s timing—shorting minutes before a major US tariff announcement—seems unusually prescient.
Blockchain analysts have dubbed the investor the “insider whale” due to the near-perfect timing of these trades with market-moving news. The move triggered speculation that the whale possesses high-level insights or real-time analytics that allow for such precise market entries.
Who’s Behind the Wallet?
The identity of the whale remains unconfirmed, but blockchain sleuths have suggested a potential connection to Garrett Jin, former CEO of the now-defunct exchange BitForex. While initial reports suggested Jin himself may be responsible, he later clarified that the funds belong to clients and that he merely provides in-house insights and node services for them.
Hi @cz_binance, thanks for sharing my personal and private information. To clarify, I have no connection with the Trump family or @DonaldJTrumpJr — this isn’t insider trading.
— Garrett (@GarrettBullish) October 13, 2025
Jin tweeted: “The fund isn’t mine — it’s my clients’. We run nodes and provide in-house insights for them.” He also denied any connections to political figures, refuting allegations of insider trading. Despite the clarification, the mystery surrounding the whale continues to fuel intrigue in crypto circles.
Also Read: Hyperliquid Hypurr NFT Airdrop Soars to $65K Floor with $300M Market Value
Market Implications
This massive short signals that major investors are still cautious about a near-term Bitcoin rally. Traders and analysts are now watching Bitcoin’s price movements closely, as positions like these could amplify volatility in the event of sudden market swings.
As the crypto market braces for potential turbulence, the “insider whale” reminds traders of the high stakes at play and the influence a single investor can wield in shaping market sentiment.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
