In a stunning revelation from the world of cryptocurrency, on-chain data has exposed the audacious move of an unidentified, significant market player who has taken up several staggering long positions on Bitcoin at an average cost slightly above $103,000.
The real-time data was broadcasted from the exchange where the deal was initiated – Hyperliquid. The live feed courtesy of CoinGlass indicates that the liquidation price is fixed at $95,576.
“A crypto giant has just initiated a 40x long position on Bitcoin worth $276 million. The liquidation price is set at $95,000. Is it a whale or an insider?” tweeted Ash Crypto on May 17, 2025.
The remarkable position caught the attention of many crypto content creators and influencers on Saturday evening. Initially, the position was a slightly less astonishing $276 million, with an entry price of $103,129.
However, CoinGlass’s live data suggests that the crypto whale seized a short-lived opportunity when Bitcoin’s price dipped below $103,000 to reinforce their position. As a result, their stake is now valued at a staggering $393 million (3,790 BTC).
The entry price has been reduced to $103,083, although the liquidation price remains just below $95,600. Given BTC’s current market price hovering around $104,000, the investor enjoys a “modest” unrealized profit of $3.3 million at the moment.
In recent months, there have been several instances of unknown whales opening significant positions on Hyperliquid that have turned heads in the crypto community. For instance, in March this year, a massive multi-million-dollar short position was initiated.
Famed crypto detective ZachXBT later suggested that this was the handiwork of William Parker, a UK individual infamous for his links to a $1 million casino theft among other scandals. Reports suggest that Parker made a tidy profit of around $20 million by leveraging his positions worth hundreds of millions of dollars, thereby potentially manipulating the market.
