A trader known as 'Trump’s insider' has placed a massive $120-127 million short position on Bitcoin at $111,386, just ahead of an expected presidential announcement on Tuesday. This move has ignited fears of an impending market crash among social media users. The trader, boasting a 100% win rate, is seen as a potential catalyst for significant Bitcoin volatility.
Bitcoin has been holding strong recently, but a high-profile trade has cast a shadow over its stability. According to reports, a whale trader dubbed “Trump’s insider” opened a short position valued between $120 million and $127 million on Bitcoin. The position was entered at a price of $111,386 per Bitcoin, timed ahead of an anticipated presidential announcement scheduled for Tuesday.
This development has sparked widespread concern in the cryptocurrency community. Social media platforms have lit up with warnings about the potential for another market crash, drawing parallels to past devastations triggered by similar large-scale trades. The trader's reputation adds to the unease, as they reportedly maintain a perfect 100% win rate on their positions.
While Bitcoin's price resilience has been notable, this short bet signals bearish sentiment from a influential figure possibly connected to political events. Investors are watching closely, as the outcome of Tuesday's announcement could amplify market reactions to the position. No further details on the trader's identity or exact motivations were provided in the reports.