Bitcoin Whale Closes $517 Million Short, Opens New Long Position on MELANIA Token
The trader secured a $3.9 million profit from the Bitcoin short and has shifted focus to a leveraged bet on the MELANIA memecoin, as Bitcoin's price volatility continues.
- The Bitcoin whale closed its record-breaking $517 million short position on Hyperliquid, netting a $3.9 million profit.
- The whale has now opened a leveraged long position on the MELANIA token, a memecoin linked to a Florida-based company reportedly owned by Melania Trump.
- Bitcoin's price remains volatile, trading near $83,000, roughly 23% below its January all-time high of $108,786.
- Hyperliquid reduced its leverage limits following the whale's high-risk trades, which previously caused a $4 million loss for the platform.
- Pseudonymous trader Cbb0fe led a failed effort to liquidate the whale's short position by attempting to drive Bitcoin's price higher.
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