A crypto whale has taken a massive short position on Bitcoin while betting on the rise of the MELANIA token. Dive into the behind-the-scenes of this crypto saga where numerous traders have attempted to liquidate the whale.
The past few days have been tumultuous in the cryptocurrency market. While Bitcoin (BTC) has been stable above $84,000 since last Tuesday, a crypto whale decided to take a radical short position.
According to Hyperliquid data, this trader opened a short position on Bitcoin worth over $445 million, while also betting long on the memecoin MELANIA.
After closing the position, the whale made over $10 million following last night’s drop to $81,900 per Bitcoin.
This position was opened with a 40x leverage and a liquidation price set at $86,000. As a result of this ambitious position, a group of crypto traders gathered to attempt to liquidate it. The trader CBB issued a call on the X network to gather numerous millionaires to try to liquidate the whale.
We have lost a battle but we have not lost the war.
— CBB (bera era) (@Cbb0fe) March 16, 2025
Locked in.pic.twitter.com/7FX2by1diu
As a result, BTC pumped to $85,100 yesterday in a massive candle. However, they failed to overcome the mysterious whale. “We lost a battle, but not the war,” said Cbb on X.
Meanwhile, the trader also took a 5x long position on perpetual futures contracts of the memecoin MELANIA, betting on a rise in the price of this forgotten memecoin. An action that raises confusion among investors.
Hyperliquid, the platform where this position was taken, embraced this episode on X, stating that the transparency of trading positions on its platform has redefined trading :
“When a whale shorts $450M+ of BTC and wants an audience, it’s only possible on Hyperliquid. When headlines say ‘the Bitcoin market is tense,’ they equate ‘Hyperliquid’ with the ‘market.’ No one can photoshop a P&L statement. No one can question a Hyperliquid position, just as no one can question a Bitcoin balance. The decentralized future is here.”
In this context, some whales may also use this to manipulate the market. By opening such a significant short on Hyperliquid and taking a more substantial long position on another exchange away from prying eyes.
However, according to Karl from High Stakes Capital, this whale is not an “insider” but merely a “gambler.”
This saga perfectly illustrates the volatile and unpredictable nature of the crypto market. The bold move of this whale, combining a massive bearish bet on Bitcoin and a bullish bet on the MELANIA token, shows that some traders are willing to take significant risks to profit from price movements and manipulate market sentiment.
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
