Trader profits $6.8M from BTC, ETH bets placed before Trump crypto reserve post
A trader banked $6.8 million from leveraged longs on Bitcoin and Ether. Many of those positions were exited shortly after US President Donald Trump confirmed crypto reserve plans.
A crypto whale that placed hundreds of 50x leverage long position bets on Bitcoin and Ether before US President Donald Trump announced a Crypto Strategic Reserve has profited nearly $7 million from the trades.
The whale deposited $5.9 million in USD Coin (USDC) on decentralized derivatives exchange Hyperliquid on March 1 to place the long positions, according to crypto analytics platform HyperDash.
The whale placed their first Ether (ETH) long position on March 2 at 2:49 pm UTC. Thirty-five minutes later, Trump announced the Crypto Strategic Reserve — nearly immediately causing an explosion in market prices.
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