Trader's $7M Bitcoin-Ethereum Bet Pays Off as Trump Boosts Crypto

A trader on the decentralized perpetual swaps platform Hyperliquid made a fortune in a single day, profiting $7 million after leveraging a large long position on Bitcoin (BTC) and Ethereum (ETH). The trader's high-risk, high-reward strategy involved aggressive leverage and precise market timing, which nearly resulted in liquidation before a sudden price surge.

The trader deposited approximately $5.6 million USDC into Hyperliquid and opened 50x leveraged long positions on BTC and ETH, bringing the total exposure to over $200 million. By early Sunday morning, ETH's price decline nearly wiped out the position, but a surprise announcement by US President Donald Trump sent shockwaves through the digital asset markets.

At 10:00 AM ET on Sunday, Trump announced plans for a national crypto strategic reserve, which sent prices of BTC and ETH surging. The trader, who had been doubling down on their long position throughout the morning, saw their positions quickly move into profit. The trader acted swiftly, closing out the trades and walking away with $7 million in realized gains within 24 hours.

Trump's unexpected crypto-friendly stance has fueled speculation about potential regulatory shifts in the United States. Analysts believe the crypto reserve concept could signal a broader embrace of digital assets at the national level, potentially driving further institutional and retail investment.

In related news, President Donald Trump has announced that the White House will host the federal government's first-ever Crypto Summit this Friday. The event signals a dramatic shift in the US government's approach to digital assets and comes as cryptocurrency prices begin to recover from a recent downturn.

The summit will bring together top founders, CEOs, and investors from the cryptocurrency sector, reinforcing the administration's emerging pro-crypto stance. The event is expected to address regulatory rollbacks, clear guidelines, and industry-friendly policies, which could pave the way for a new wave of investment and innovation in the space.