The Whale’s Perfectly Timed Trade

A cryptocurrency trader executed a massive leveraged trade before former President Donald Trump announced the inclusion of Bitcoin (BTC) and Ethereum (ETH) in the U.S. Crypto Strategic Reserve, raising insider trading suspicions.

Whale’s Entry into the Market

On March 1st, the whale deposited $5.9 million USDC into Hyperliquid, preparing for high-risk leveraged positions. They opened long positions on BTC at $85,908 and ETH at $2,197 with 50x leverage.

Announcement Timing

On March 2nd at 2:49 PM UTC, the trader placed their first Ethereum long position, just 35 minutes before Trump’s announcement. The announcement spurred a market rally, boosting Bitcoin past $94,000 and significantly increasing Ethereum’s value.

Profit Realization

The trader closed their Bitcoin positions between $87,332 and $91,399, netting over $6.8 million in profit. By March 3rd, most positions were closed, and unrealized profits peaked at $8.05 million.

Community Concerns

The trade’s execution has ignited speculation about insider trading. Analysts noted, “Did someone know?” after observing the massive trades prior to the announcement. Veteran trader Tyrion Trades pointed out that blockchain transparency complicates hidden insider trading.

Market Reaction

After Trump’s announcement, the crypto market surged, adding over $300 billion in market cap. This is not the first time Trump’s statements have influenced crypto prices, hinting a significant shift in his stance towards digital assets.

Conclusion

In light of this trade, questions about market integrity and insider trading in crypto have resurfaced. While blockchain transactions are traceable, access to privileged information remains a concern, potentially giving certain traders an advantage.