A trader on the decentralized exchange Hyperliquid closed over 300 heavily leveraged short positions on Bitcoin, worth $521 million, resulting in a profit of $3.9 million. The short position was set at a price of $83,898, leveraged at 40x. Traders attempted to drive Bitcoin's price above the liquidation price of $85,591 to force the whale out of their position. Following the closure of the shorts, the whale opened a new long position on the Melania Trump meme coin for $2.7 million at 5x leverage. Despite speculation that the whale might have insider knowledge due to the risky nature of the trades, this appears unlikely according to analysts. The whale's account has accrued a total profit of over $9.37 million in under 30 days. As the cryptocurrency market remains volatile, Bitcoin's price recently fluctuated around $83,000.

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