en.coinotag.com
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A significant crypto trading move has emerged following the announcement of a proposed Crypto Strategic Reserve by US President Donald Trump.
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In this unprecedented event, a market participant gained roughly $6.8 million through leveraged long positions in both Bitcoin and Ethereum shortly after Trump’s definitive statements.
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According to crypto analytics platform HyperDash, the trader employed substantial leverage, fueling speculation of possible insider trading linked to Trump’s announcement.
A crypto trader secured $6.8 million in profits from strategic long positions, raising speculation about potential insider trading following Trump’s crypto reserve announcement.
Whale’s Strategic Moves Before Major Announcement
The trade in question involved a crypto whale who capitalized on market movements by placing significant leveraged bets on Bitcoin and Ether. On March 1, a deposit of $5.9 million in USD Coin (USDC) was made to the decentralized exchange Hyperliquid, setting the stage for a series of long positions.
Starting with their first Ether position on March 2, just moments before President Trump’s announcement of the Crypto Strategic Reserve, the whale leveraged up to 50x, resulting in an astonishingly swift profit. The whale’s significant moves generated a buying frenzy in the market, which resulted in a spike in both Bitcoin and Ether prices.
Market Reactions and Price Movements
The initial long position for Bitcoin was entered just before the major upward movement, with the whale capitalizing on price increments from $86,033 to as high as $91,399 within a brief window. The closings were executed just after the announcement, heightening speculations of substantial pre-knowledge regarding the nature of Trump’s discourse.
While profits exceeded $6.8 million, the timing of the trades provoked discussions around potential insider trading, especially as some positions were liquidated just minutes after the presidential announcement. Industry experts voiced concerns, illustrating the shadow of potential misconduct in this highly volatile landscape.