In a significant development in the cryptocurrency market, a prominent trader often referred to as the “Trump insider” has escalated his bearish stance on Bitcoin by boosting his short position to 2,100 BTC, valued at approximately $227 million. This decision comes at a time when Bitcoin’s price hovers around $108,000, prompting discussions among traders regarding the sustainability of its recent rebound.
Data from Onchain Lens, leveraging analytics from Hyperbot, revealed that this trader transferred 3,003 BTC, equivalent to about $338 million, to Binance on a recent Wednesday. This move may indicate a strategy to either secure profits or adjust his trading exposure. Notably, the day preceding this transaction saw him add to his short with an additional deposit of 200 BTC, valued around $22 million.
Currently, this trader’s position reflects a floating profit of $5.8 million, a gain that remains unrealized until the position is closed. His leveraged short was initiated at around $111,000, utilizing 10x leverage, and is presently yielding considerable returns as Bitcoin struggles to regain upward momentum.
The trader’s activity fits a broader pattern of aggressive bearish positioning, particularly evident in his recent movement of $30 million in USDC to Hyperliquid to establish a $76 million short position. Earlier in the week, he amplified his exposure when Bitcoin attempted a brief recovery following a notable decline the previous week, ultimately peaking at a staggering 3,440 BTC, worth about $392 million.
His strategic timing has reignited debates within cryptocurrency circles, with many speculating the investor is anticipating another market correction. There are some projections that Bitcoin may retest levels around $100,000 or possibly lower in the near future.
The wallet behind these substantial trades gained notoriety after it reportedly earned $160 million by shorting Bitcoin just prior to a significant announcement from former President Donald Trump regarding tariffs on Chinese goods. This prescient move earned the trader the moniker “Trump insider,” a title that has remained associated with him through multiple successful trades.
Blockchain analysts have since categorized the wallet as part of an established group of “Bitcoin OGs,” indicating activity dating back to the early days of Bitcoin. Records show the trader has accumulated over 86,000 BTC between 2010 and 2012, establishing him as one of the longest-standing whales within the cryptocurrency sphere.
The recent shorts have notably emerged in the wake of the market crash observed on October 10-11, when Bitcoin plummeted from above $125,000 to around $102,000, following Trump’s surprising announcement. This significant sell-off led to the liquidation of more than $19 billion in leveraged positions across the crypto market, momentarily pushing Bitcoin below the psychologically significant $100,000 mark. Ethereum was not spared, experiencing an 18% drop to approximately $3,370, as traders sought to mitigate risk across various asset classes.
The whale’s actions since the market rout indicate an expectation of further instability in the cryptocurrency landscape, rather than an impending rebound. Some critics have pointed out the uncanny precision of his trading decisions, often coinciding with major political or economic announcements, while supporters argue that he possesses an exceptional ability to gauge market sentiment and structure.
Irrespective of the underlying motives, this trader’s latest short position has become one of the largest active positions recorded on-chain. As Bitcoin’s funding rates shift to a negative stance and market volatility increases, analysts suggest that this bet could serve as a vital gauge of institutional sentiment as the cryptocurrency market approaches the final quarter of 2025.
