Bitcoin's Short Position Before the Drop: Insider Whale Active Again

Cryptocurrency investors are closely watching the recent fluctuations in Bitcoin and Ethereum prices. Recently, a significant event shook the crypto market: a whale known by the pseudonym ‘BitcoinOG’ made a profit of $150 million with short positions opened before the drop in Bitcoin (BTC) and Ethereum (ETH), and now this mysterious investor is back on stage. This enigmatic trader has opened a new short position worth $160 million.

According to Lookonchain data, the whale has opened a new short position of approximately 1,423 Bitcoin (around $161 million). Additionally, he transferred 100 Bitcoin (approximately $11.5 million) to the Kraken exchange. This new position is being traded with 10x leverage, and the liquidation price has been set at $123,500. The current price of Bitcoin is hovering around $114,000.

Analysts believe that such timing cannot be merely coincidental. For instance, popular crypto content creator Coffeezilla emphasized that the whale opened his last short position just one minute before Donald Trump announced a 100% tariff on China. Furthermore, on-chain researcher Eye suggested that the whale's address might be linked to Garrett Jin, the former CEO of BitForex. The analysis indicated that a wallet attributed to the whale transferred 40,000 USDT to the address ‘garrettjin.eth’, which is claimed to belong to Jin.

However, well-known researcher ZachXBT expressed that this claim is weak, stating that there is no direct evidence of a connection. Additionally, it was noted that Jin opened a position on Polymarket, answering “Yes” to the question: “Will Trump pardon CZ (the founder of Binance)?” and this position currently appears to be in 39% profit, if Trump brings up the pardon topic.

While the identity of this mysterious whale remains unconfirmed, it is anticipated that a significant movement could occur in the crypto market again. Investors should continue to closely monitor these developments and their potential market impacts.