Trader Who Made $160 Million Shorting Bitcoin, Ethereum Before Trump's Tariff Threat Is Doubling Down: 'Did Someone Know'

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A trader who attracted attention for successfully shorting Bitcoin (CRYPTO: BTC) just before the recent crash added to their position even as the market rebounded on Sunday.

Investor Doubles Down On Bearish Position

The investor opened the position at $117,369 and was sitting on an unrealized profit of $3.70 million as of this writing, according to decentralized perpetual exchange Hyperliquid. The trader took a 10x leverage bet to boost the position's value to over $163 million.

If Bitcoin reaches $123,510, which is 7.59% away from its current price, the trader will be liquidated.

Interestingly, the bet was taken despite the market’s sharp rebound, with Bitcoin regaining $115,000 on Sunday.

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Signs Of Insider Trading?

The whale grabbed headlines after opening multi-million dollar short positions on BTC and Ethereum (CRYPTO: ETH) right before President Donald Trump threatened to impose 100% tariffs on China.

The cryptocurrency market tumbled in response and the trader subsequently closed most of their short positions, netting a profit of $160 million.

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Reacting to the development, capital markets commentator The Kobeissi Letter said, "Did Someone Know?"

This is not the first time that suspicions of insider trading have been raised in relation to Trump’s posts.

Story Continues

Earlier in March, a trader opened a 50x leveraged bet on Bitcoin and Ethereum shortly before Trump announced a cryptocurrency reserve, turning an investment of $4 million into a $200 million position.

Photo Courtesy: Yalcin Sonat On Shutterstock.com

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This article Trader Who Made $160 Million Shorting Bitcoin, Ethereum Before Trump's Tariff Threat Is Doubling Down: 'Did Someone Know' originally appeared on Benzinga.com

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