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Okay, so there’s this big player in the digital currency space, known as “50x ETH,” and they just earned a fortune – about $4.06 million in only three days – by wagering against Bitcoin.
## Time to Take Profits
Instead of going back into Bitcoin, this big player is branching out. They’re buying up Ethereum and assets backed by gold, likely to protect against any market instability. Essentially, “50x ETH” played the Bitcoin instability game perfectly and walked away with a sweet $4.06 million gain from their short position. And check this out – they took their funds out of Hyperliquid right after closing the position, showing they know how to operate.
* $6.11 million USDC exchanged into 3202 ETH (Ethereum)
* $3.28 million USDC exchanged into 1040 PAXG (gold-backed tokens)
## A Look Back: “50x ETH’s” Trading Background
Over the last three days, this big player put $17.82 million USDC into Hyperliquid, setting up a 40x leveraged trade against Bitcoin. “50x ETH” is famous for high-stakes, high-leverage actions on Ethereum. At one point, they had a short position of 6211 BTC, valued at $517 million, with an entry price of $83,898 and a liquidation price of $85,559. After finishing their trading, the big player moved all $21.88 million USDC back to their wallet from Hyperliquid. The position was initially down by $4.54 million just a day and a half after opening. The trader got into this high-leverage Bitcoin position right after setting it up.
## Earlier Actions: Increasing the Bet
Even though the trade was initially down by $836,800, this big player decided to increase their short position. Before that, their Bitcoin short position had already grown to 3941 BTC, valued at $331.8 million, at a price of $84,040.
So, “50x ETH” made a fortune by closing a huge $BTC short position, earning $4.06 million in just three days. The main question now is: what’s in store for this digital currency big player?
An Ethereum investor with significant capital, famous for using 50x influence, has taken a daring step into the Bitcoin market. Gambling on a short-term drop, this whale tactically invested in 1,692 Bitcoins over 12 different deals, priced from $58,664 to $69,414. This amounts to a massive $110 million!
## What Happens Later? Compression or Additional Decrease?
Now that this 50x influence Ethereum whale has left the short spot, what happens later for Bitcoin’s cost?
* The whale seems to expect an additional cost decrease prior to making even bigger moves, as of late getting 557.67 Bitcoins for about $35.55 million at $63,757.
* With the majority of short spots shut, a few merchants are anticipating a cost flood energized by a short compression.
* Investments in Ethereum and PAXG propose a hazard moderation methodology and a positive viewpoint on Ethereum’s execution.
The crypto world is observing intently to check whether this whale will make another huge move and how Bitcoin’s cost will respond.
*Composed by Istiak, an accomplished crypto content essayist with more than two years of involvement. He rearranges complex blockchain and computerized cash ideas for a wide crowd through drawing in articles, guides, and news reports.*
