Hyperliquid Trader Who Predicted Trump Tariff Crash Doubles Down on $496M Bitcoin Short
A Hyperliquid trader who previously called the Trump tariff market crash is now betting big against Bitcoin—doubling down on a massive $496 million short position.
Why This Matters
This isn't just another bearish bet. The same trader accurately predicted the tariff-induced market turmoil, giving this short substantial credibility. While Bitcoin bulls point to institutional adoption and ETF inflows, this move signals deep skepticism about near-term price appreciation.
The Contrarian Play
Shorting half a billion dollars worth of Bitcoin takes conviction—especially when mainstream finance is finally warming to crypto. But remember: for every short position, there's a long betting the opposite. Markets thrive on disagreement.
Timing the Top?
Whether this trader catches the local top or gets liquidated remains to be seen. Bitcoin has humbled both bulls and bears throughout its history. One thing's certain: when someone puts $496 million on the line, it's worth paying attention.
Just another day in crypto—where fortunes are made and lost faster than traditional finance can schedule a committee meeting.
TLDR
- A Hyperliquid trader has increased their Bitcoin short position to $496 million at 10x leverage with a liquidation price of $124,270
- The same trader previously made $160-192 million profit by shorting Bitcoin and Ethereum before the recent market crash following Trump’s tariff announcement
- The wallet owner is suspected to be connected to Garrett Jin, former CEO of defunct exchange BitForex, though Jin claims the funds belong to clients
- Two other major Hyperliquid whales have opened nearly $182 million in short positions across various cryptocurrencies
- The timing of the original short position, opened less than an hour before Trump’s tariff announcement, led to speculation about insider trading
A crypto trader who made millions shorting the recent market crash has opened a massive new short position worth nearly half a billion dollars. The Hyperliquid whale now holds a Bitcoin short position valued at approximately $496 million.
The position uses 10x leverage and has a liquidation price set at $124,270. Data from Hyperliquid block explorer Hypurrscan shows the trader has more than doubled their bet over the past two days.
The #BitcoinOG who shorted $BTC and $ETH before the crash — making over $160M — is adding to his $BTC short again!
Current position: 3,440 $BTC($392.67M)
Liquidation price: $128,030https://t.co/rGmpJsvygx pic.twitter.com/TZuCsfnu6x
— Lookonchain (@lookonchain) October 14, 2025
The whale initially opened the position with $163 million. They have since added roughly $80 million in USDC to fund the expanded position.
This marks another aggressive bet against the crypto market. The same trader previously profited between $160 million and $192 million by shorting Bitcoin and ethereum ahead of the recent crash.
The trader first gained attention two months ago after appearing with $11 billion worth of Bitcoin holdings. Last week they opened $900 million in shorts across Bitcoin and Ethereum.
Identity Questions Surround Whale Wallet
The crypto community has labeled the wallet owner as an “insider whale” due to questionable timing. The trader opened their previous short position less than an hour before President Donald Trump announced new tariffs on Friday.
The tariff announcement triggered a sharp drop in crypto prices. The timing sparked debate about possible insider information.
Blockchain researchers suggested the wallet may be connected to Garrett Jin. Jin previously served as CEO of BitForex, a crypto exchange that is no longer operating.
Researcher Eye initially claimed Jin owned the wallet. Binance CEO CZ shared the theory on X and requested verification.
Later analysis from investigators like ZachXBT indicated the wallet more likely belongs to one of Jin’s associates. Jin responded to the speculation on Sunday.
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
He denied any connection to the Trump family or insider trading. Jin stated the funds belong to his clients rather than himself.
Additional Whales Join Bearish Bets
Other large traders on Hyperliquid have also opened short positions. Two major whales hold nearly $182 million in shorts across multiple tokens.
One whale identified as 0x9eec9 maintains $98 million in short positions. These bets target DOGE, ETH, PEPE, XRP, and ASTER.
Another whale labeled 0x9263 has wagered $84 million against SOL and BTC. These positions represent calculated moves by experienced traders.
The size and timing of these bets continue to pressure bitcoin and broader crypto markets. Bitcoin had recovered to around $115,000 over the weekend before the new short positions appeared.
Market data shows increased hedging activity and put buying since the crash. The whale’s current position shows an unrealized profit NEAR $5.7 million with Bitcoin trading around $114,000.
