Bitcoin News Today: Bitcoin Whale's $160M Short Before Trump Tariff Sparks Insider Speculation

A major Bitcoin (BTC) short position of 3,500 BTC, valued at approximately $160 million, has been identified on the decentralized derivatives platform Hyperliquid. The leveraged trade, opened with $16 million in margin, currently holds a liquidation price of $123,520, just below Bitcoin's recent all-time high of $126,198 recorded on October 7. The position has already generated $3.4 million in unrealized profit as BTC trades near $115,000 Bitcoin Whales $160M Short on Hyperliquid Sparks Insider Suspicion^[1]. The whale's timing has drawn scrutiny, as the trade was initiated minutes before U.S. President Donald Trump announced a 100% tariff on Chinese imports, a move that triggered a market-wide collapse and record $19 billion in crypto liquidations .

The trader's earlier short positions on Bitcoin and Ethereum were executed just before Trump's tariff announcement, which caused a 7.5% drop in BTC to $112,505.92 and a 12.5% decline in ETH to $3,837.57. The whale closed its Ethereum short positions for $72.33 million in profit while retaining $92.84 million in BTC shorts with 5.38x leverage How One Trader Made $160 Million Shorting Crypto Before Trumps China Tariff Bombshell^[2]. On-chain analysts, including YouTuber Stephen Findeisen (Coffeezilla), have raised questions about the trader's "perfect timing," noting that the last short was placed at 20:49 GMT, just one minute before Trump's tweet at 20:50 GMT Bitcoin Whales $160M Short on Hyperliquid Sparks Insider Suspicion^[1].

Speculation about insider knowledge has intensified, with blockchain researcher EyeOnChain linking the whale to Garret Jin, co-founder of the now-defunct exchange BitForex. A 40,000 USDT transaction was traced to a wallet connected to Jin's ENS domain, though other analysts, including ZachXBT, have dismissed the link as speculative. Jin, who trades on prediction platform Polymarket, has denied any connection to the Trump administration or insider trading, attributing the trade to economic analysis of overbought signals and rising U.S.-China tensions Who Is Garret Jin? Crypto Whale Who Shorted Bitcoin Right Before^[3].

Technical analysis highlights critical support levels for Bitcoin. The 200-day simple moving average (SMA) at $95,900 is a key threshold, with further support at the 50-day SMA ($91,000–$92,000) and the STH 3M-6M realized price ($79,290). These levels align with historical buying interest, and a sustained break below $100,000 could signal bearish momentum Bitcoin, XRP, Ethereum Price Move: Cryptos Regain Ground After^[6]. Analysts note that Bitcoin's current price action is constrained by a tug-of-war between large bid and ask orders near $63,000 and $61,000, with $236 million in sell orders and $313 million in buy orders Bitcoin, XRP, Ethereum Price Move: Cryptos Regain Ground After^[6].

Market observers remain divided on the implications of the whale's actions. While some argue the trader may have exacerbated the market crash by triggering a cascade of liquidations, others view the trade as a reflection of macroeconomic risks. The broader crypto market, which lost $1.3 trillion in value during the October 10–12 liquidation event, is now stabilizing as U.S.-China trade tensions ease. Bitcoin has since rebounded to $115,000, with institutional buyers like Marathon Digital Holdings accumulating 400 BTC ($45.9 million) at the trough .