US$80M Whale Bet Defies Bitcoin Rally as Trader Shorts BTC Amid Ceasefire Optimism

A large crypto trader has placed an approximately US$80 million (AU$116 million) leveraged bet against Bitcoin, even as the asset moved higher amid easing geopolitical tensions. The position was built on the Hyperliquid decentralised exchange across Tuesday and Wednesday using roughly seven times leverage.

The trade combines several macro positions, including a US$40 million (AU$58 million) short on Bitcoin futures opened near US$68,760 (AU$99,702), alongside a US$37 million (AU$53.7 million) long on Brent crude oil and a US$2 million (AU$2.9 million) short on the S&P 500. This structure reflects expectations of rising energy prices and weakening risk assets.

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Markets React to Ceasefire Talk

The positioning contrasts with recent price action, with Bitcoin recovering above US$68,000 (AU$98,600) after dropping to around US$66,000 (AU$95,700) earlier in the week. The rebound followed comments from US President Donald Trump suggesting a possible ceasefire in the US and Israel-Iran conflict.

Equity markets also moved higher as traders priced in potential de-escalation, although uncertainty persists due to conflicting signals from Iranian officials.

The wallet behind the trade has a volatile history, including losses of around US$40 million (AU$58 million) after reversing earlier positions. Prior to that, it had recorded gains of approximately US$25 million (AU$36.25 million) from short trades.

Separate activity shows a similar trend, with another whale opening a US$53 million (AU$76.85 million) Bitcoin short while maintaining exposure to other assets.

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