'Unidentified whale' doubles Bitcoin short bets… total $500 million position

The 'Hyperliquid (HYPE) whale', which earned $192 million from the recent market plunge, has doubled its Bitcoin (BTC) short position and once again attracted market attention.

According to Hypurrscan on the 14th (local time), the trader has held a total $496 million (about 680 billion won) short position, betting on a Bitcoin price decline over the past two days. The position's leverage is 10x, and the liquidation price is around $124,270.

The whale had opened a $163 million short position just a day earlier, but it appears to have more than doubled its bet in a single day. Over the past week it has repeatedly held aggressive short positions, emerging as a representative 'selling force' betting on a market downturn.

Earlier, the whale was reported to have opened a large Bitcoin short about one hour before President Donald Trump announced 100% tariffs on Chinese imports, earning the nickname "insider whale". Immediately after the announcement, the market plunged and the trader made profits exceeding $100 million.

Speculation continues in the community about the identity of the wallet. On-chain analyst Eye claimed the wallet address is linked to Garrett Jin, the former CEO of the now-defunct exchange BitForex, but later other analysts, including ZachXBT, took a cautious stance, saying "there is no direct evidence of a connection."

The exact identity of this 'mystery whale' has still not been revealed, but the market says his movements are having a significant impact on short-term Bitcoin price flows.