Blockchain data revealed that an unknown investor opened a massive long position in Bitcoin worth over $393 million, marking one of the largest individual bets on the price increase recently.
According to the 'CoinGlass' platform, which tracks open trading positions on the 'Hyperliquid' platform, the mysterious whale began buying Bitcoin at an entry price of $103,129, with an initial value estimated at $276 million.
When the price briefly dropped below $103,000, he seized the opportunity to double his position to 3,790 Bitcoins, reducing the average entry price to $103,083.
It is noted that the liquidation price for the position remains relatively low at $95,576, reflecting the use of calculated leverage.
Despite the size of the position, the unrealized profit currently stands at only about $3.3 million, with Bitcoin trading at around $104,000.
This move comes amid a series of similar activities from anonymous whales in recent months on the 'Hyperliquid' platform, raising speculation about the identities of these major players.
A similar incident was noted in March when a trader opened a huge short position, which later turned out, according to digital investigator 'ZachXBT', to be 'William Parker', involved in casino thefts and multiple frauds.
According to reports, 'Parker' managed to achieve profits of around $20 million through high leverage that allowed him to open positions worth hundreds of millions, giving him potential influence over market movements.
Whether this new whale is a similar figure or just an institutional investor betting on an upward trend for Bitcoin, the size of the position and the structure of the trade reflect great confidence in the continuation of Bitcoin's bullish trend.
