Mysterious Hyperliquid trader makes a new massive bet against Bitcoin
14.10.2025
An anonymous trader on the Hyperliquid platform has once again caught the crypto community’s attention by opening a large short position against Bitcoin. According to blockchain explorer Hypurrscan, the trade’s value is about $496 million with 10× leverage. The liquidation price is set at $124,270, suggesting a bet on a significant short-term decline in BTC’s value.
This same trader previously made headlines after reportedly earning around $192 million from shorting Bitcoin during a market downturn. At that time, he opened positions worth hundreds of millions just before a deep correction, sparking speculation about possible insider knowledge.
This time, the trader’s activity has intensified: the initial $163 million position quickly grew to half a billion dollars. Analysts believe such large positions can influence market volatility, triggering short-term price movements. Some traders have even dubbed the address an “insider whale” due to the precision of its market timing.
The community is actively discussing who might be behind the wallet. One name mentioned is former BitForex CEO Garrett Jin, though he denies direct involvement, stating that the positions belong to a client-managed fund. So far, there’s no confirmed evidence linking him to the address.
Experts warn that high-leverage positions carry major risks – even a small price increase could lead to mass liquidations. However, if the trader’s bet proves right, profits could exceed hundreds of millions of dollars. Such an aggressive strategy reflects strong confidence or an attempt to influence market sentiment.
Large shorts on platforms like Hyperliquid often trigger short-term corrections or wipeouts of over-leveraged long positions. Monitoring the activity of such players helps traders understand market dynamics and anticipate sharp movements in the days ahead.