Crypto Trader Netted $6.8M on BTC & ETH Bets

A crypto whale leveraged high-stakes bets on Bitcoin and Ethereum, securing a $6.8 million profit following US President Donald Trump’s announcement of a Crypto Strategic Reserve, according to on-chain analytics platform Lookonchain.

This whale, who was long $BTC and $ETH with 50x leverage, has closed most of his long positions, making over $6.8M in just one day!https://t.co/GvR57aU4cupic.twitter.com/9kmvhRmQwV

— Lookonchain (@lookonchain) March 2, 2025

The whale deposited $5.9 million in USD Coin on 1 March into the decentralised derivatives exchange Hyperliquid to open 50x leveraged long positions, according to crypto analytics platform HyperDash.

The strategy carried significant risk—just a 2% market drop would have triggered liquidation.

Instead, prices surged after Trump’s 2 March announcement on Truth Social, where he named Bitcoin, Ethereum, XRP, Solana, and Cardano as part of the reserve initiative.