Crypto Whale Shorts $445M in BTC While Taking Bullish Bet on MELANIA Token, Hyperliquid Data Show

Bitcoin (BTC) has remained relatively stable since last Tuesday, showing a bounce to its 200-day average above $84,000 over the weekend. However, amidst this stability, a crypto whale has made a bold move by increasing a leveraged bearish position on BTC worth millions on Hyperliquid while simultaneously taking a bullish stance on the MELANIA token.

As of the latest data, this whale holds a short position in BTC perpetual futures valued at over $445 million, with an unrealized gain of $1.3 million. The position is leveraged at 40x and has a liquidation price set at $86,000, according to information from Hyperliquid and Lookonchain.

The significant short position taken by the whale caught the attention of the crypto community on social media, with pseudonymous trader CBB rallying other participants to form a consortium of bulls in an attempt to liquidate the whale.

Just hours after CBB’s call to action, Bitcoin’s price surged above $84,690, prompting the whale to deposit $5 million USDC to increase margin and avoid liquidation. Despite the efforts of the bull consortium, the whale managed to evade liquidation.

In addition to the bearish bet on BTC, the crypto whale also holds a 5x leveraged long position in the MELANIA perpetual futures. This position indicates a belief in a price increase for the memecoin associated with MKT World LLC, a company owned by Melania Trump, the wife of former U.S. President Donald Trump.

Hyperliquid, the platform where these trades were executed, praised the transparency of its trading positions, stating that it has redefined the trading landscape. The platform highlighted the incident as an example of how trading transparency can be achieved on its platform.

Last week, Hyperliquid made headlines when an influential whale executed a “liquidation arbitrage,” exploiting floating profits and leading to a margin shortage that triggered liquidation and transferred the risk to the platform’s HLP vault.

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