The popular whale “50x ETH” reached success by closing a substantial $BTC short position which brought him $4.06 million in profits during three days of trading. The trader made this wager right after creating a highly leveraged position against Bitcoin.
Background: The 50x ETH’s Trading History
The “50x ETH” whale earned fame from risky high-leverage trades on Ethereum. During the last three days, the whale invested 17.82M USDC into Hyperliquid to set a 40x leveraged trade against Bitcoin.
When the whale operated at its height it maintained a short position in 6,211 BTC worth $517 million at $83,898 entry price and $85,559 liquidation threshold. The price of this stale position reached $4.54M on its opening date which was about 1.5 days earlier. The whale has exhausted its trading activity by withdrawing the entire 21.88M USDC fund amount from Hyperliquid back to its wallet.
The Profit-Taking Move
The 50x ETH whale successfully took advantage of the Bitcoin price movement to extract a $4.06M profit from their entire short position. The whale transmitted funds out of Hyperliquid right after closing the position. This indicated their tactical business maneuver.
- The Bitcoin whale switched to different financial investments rather than putting its profit back into Bitcoin.
- $6.11M USDC → 3,202 ETH (Ethereum)
- $3.28M USDC → 1,040 PAXG
The whale seems to protect itself from market uncertainties by expanding their Ethereum and gold-backed holdings.
Previous Trading Moves: Scaling the Short
The Bitcoin short position of the whale expanded quickly to 3,941 BTC worth $331.8M with a price of $84,040 just previous to this period. Despite a current loss worth $836.8K for this transaction the whale chose to deepen their short position.
The 50x ETH invested 1,692 BTC (~$110M) through 12 separate BTC buy orders positioned between $58,664 and $69,414 during this period to show expected long-term gain potential and a bet for temporary market price decline.
What’s Next? Short Squeeze or More Downside?
The 50x ETH whale has completed its short exit so what development can happen to Bitcoin’s future price trends?
- The whale recently placed only four buy orders totaling 557.67 BTC (~$35.55M) at $63,757 since it anticipates the BTC price moving downwards more before executing larger trades.
- A large portion of short position closures has motivated certain traders to predict a price rise via short squeeze effects.
- The investor’s placement into Ethereum along with PAXG indicates both risk reduction strategies and expectations of positive Ethereum performance.
The crypto market maintains keen observation to check if this whale conducts another significant trade. Will Bitcoin’s price react?
