Trader Turns $6M into $13.8M in Hours with Trump's Crypto Announcement
1min read A crypto trader has amassed a fortune of $6.8 million by making well-timed bets on Bitcoin and Ethereum, capitalizing on the market surge following President Donald Trump's U.S. crypto reserve announcement on Sunday. The trader, operating on decentralized derivatives exchange Hyperliquid, deposited $6 million in USDC and used 50x leverage to open long positions in the two leading cryptocurrencies, according to on-chain analytics platform Lookonchain.
The trader's strategy involved significant risk, as a 2% price drop would have triggered liquidation. However, the market reacted favorably to Trump's announcement, allowing the trader to exit their positions with substantial gains. The trader began aggressively increasing Ethereum long positions at 9:49 AM ET on Sunday, acquiring hundreds of ETH contracts at prices ranging from $2,190 to $2,202, according to data provided by analytics dashboard Hyperdash.
Just 35 minutes later, at 10:24 AM ET, Trump announced on Truth Social that his administration would establish a U.S. Crypto Strategic Reserve, naming Bitcoin, Ethereum, XRP, Solana, and Cardano as part of the initiative. The market responded instantly to the news, with Bitcoin surging beyond $90,000 and Ethereum climbing above $2,400. Both assets are up 10% and 14.6% respectively on the day, as of the time of this report.
The trader's profit came from phased exits as crypto prices surged. Bitcoin positions were closed between $87,500 and $91,399, while Ethereum positions were sold above $2,270, on-chain data shows. By Sunday afternoon, the trader had fully exited the bulk of their positions, locking in $6.8 million in profit.
