An investor who opened a massive $517 million short position on Bitcoin (CRYPTO: BTC) with a 40x leverage closed all their trades Tuesday, profiting millions of dollars.
What happened: The position was opened at an entry price of $83,898 on the perpetual trading platform Hyperliquid, and would have been liquidated had Bitcoin reached $85,557.
However, none of the trader’s perpetual futures contracts were active as of this writing, suggesting that the bets were closed.
The whale walked away with total profits of $9.46 million, with over $4 million in the last three days alone.
See Also: Crypto Leaders Step Up Pressure On SEC As Trump’s Policies …Full story available on Benzinga.com
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