TLDR
- A Bitcoin OG has opened a $234 million short position on BTC through Hyperliquid.
- The same trader previously earned $200 million during the October 10 Bitcoin crash.
- The crash followed former President Trump’s announcement of new tariffs on Chinese goods.
- The new short position carries a liquidation price set at $123,000.
- Bitcoin’s price dropped from $122,000 to $104,000 after the tariff news broke.
A Bitcoin OG has returned to the spotlight after placing a $234 million short position on BTC via Hyperliquid. This move comes days after profiting heavily from Bitcoin’s price plunge during Trump’s tariff announcement on China. According to Arkham, the whale’s latest short position puts the liquidation level at $123,000.
Bitcoin OG Gains $200M on October 10 Crash
The Bitcoin OG made headlines after shorting BTC just before Trump’s new China tariffs hit the markets. The October 10 announcement led to a significant drop in the BTC price from $122,000 to $104,000. Most of the losses occurred shortly after the tariff declaration.
Arkham’s data confirmed that the Bitcoin OG entered the massive short position minutes before the policy shift. This trade generated $200 million in profits, raising concerns about potential insider access. Several traders on social platforms raised questions about the suspicious timing.
THE $10B HYPERUNIT WHALE JUST DOUBLED DOWN SHORTING $BTC
The $10B Hyperunit Whale who made $200M shorting the China Tariff Crash just DOUBLED DOWN on his BTC short position.
He is now short $234M of BTC with a liquidation price at $123K. pic.twitter.com/8nrKbDUZFQ
— Arkham (@arkham) October 21, 2025
China’s move to restrict rare earth exports intensified the market pressure on risk assets, including cryptocurrencies. Further stress came from technical problems at Binance, which affected tokens like Ethena’s USDe. These events collectively triggered the sharp drop in BTC.
$234M BTC Short Position Signals Bearish Outlook
The Bitcoin OG has now increased bearish exposure, placing a $234 million short bet as BTC hovers around $108,500. The short position was established on the decentralized exchange Hyperliquid, according to Arkham’s latest data. The liquidation price sits at $123,000.
The timing coincides with BTC stalling near $114,000 before pulling back to $108,500. This suggests the Bitcoin OG expects further downside. CoinDesk reported BTC’s recovery from the Oct. 10 low but noted strong resistance near $114,000.
Traders are now observing whether this Bitcoin OG’s bold bet will repeat its previous success. The size of the position indicates a high level of confidence. However, BTC’s movement remains volatile amid global macro events.
Insider Trading Allegations Stir Market Attention
The Bitcoin OG opened the previous short just 30 minutes before Trump’s announcement, raising red flags. Many in the crypto community questioned the exact timing of the trade. These concerns continue to dominate discussions online.
Arkham’s data has brought increased transparency to the whale’s trading behavior. The platform tracks wallet activity and exposes prominent positions. This has put the Bitcoin OG under market scrutiny once again.
Despite the allegations, no formal accusations have been made. Still, the coincidence has fueled debates about regulatory oversight. The Bitcoin OG remains a central figure in this unfolding story.
