Bitcoin News: Crypto investigator calls whale shorting BTC on Hyperliquid a cyber criminal

Source Fxstreet
  • On-chain investigator ZachXBT has identified the whale who opened short Bitcoin with 40x leverage on Hyperliquid.
  • The trader closed a $332 million short position, earning over $9 million despite coordinated efforts to force liquidation.
  • Bitcoin price plunged 3% on Tuesday, hitting new lows for the week circa $81,160.

Bitcoin price slumped 3% Tuesday as an on-chain investigator identified a whale who shorted BTC with 40x leverage, profiting millions despite liquidation attempts.

Bitcoin short whale identified as cybercriminal using stolen funds

On-chain investigator ZachXBT claimed the crypto whale that executed a high-leverage short trade on Bitcoin is a cybercriminal that used “stolen funds.”

The trader closed a 40x leveraged short position, securing over $9 million in profit despite efforts to force liquidation.

Data from Lookonchain shows the whale opened a 3,940 BTC short position at $84,040 on Saturday, valued at $332 million, with a liquidation price of $85,300.

Pseudonymous trader CBB led an effort to push Bitcoin's price beyond this threshold, briefly reaching $84,690. The whale countered by adding $5 million in USDC to increase the margin, avoiding liquidation.

Zach ZBT exposes Hyperliquid Bitcoin whale as Cybercriminal | Source: X.com

Zach ZBT exposes Hyperliquid Bitcoin whale as Cybercriminal | Source: X.com

Despite continued pressure, the whale expanded the short position and exited on Tuesday with a multi-million-dollar gain.

While ZachXBT confirmed the trader’s cybercriminal background, no further identity details were disclosed.

The investigator clarified that the individual is not linked to North Korea’s Lazarus Group, known for high-profile crypto hacks, including the recent Bybit exchange breach.

Bitcoin price forecast: $80,000 support wobbles ahead of US Fed rate decision

Bitcoin price is trading at $81,865 after a 2.55% decline on Tuesday.

Technical indicators show that BTC stands the risk of losing the $80,000 support as selling pressure mounts ahead of the United States (US) Federal Reserve (Fed) rate decision slated for Wednesday. 

As seen below, BTC is trapped within the Keltner Channel, with upper resistance at $93,756 and lower support at $77,139.

The midline at $85,447 is acting as resistance, keeping BTC in a downtrend.

Bearish sentiment is further emphasized by BTC’s failure to reclaim the $85,000 zone after several attempts this week.

If sellers push BTC below $80,000, a breakdown could trigger further losses towards $77,000 should selling pressure intensify after the Fed’s decision.

Bitcoin price forecast | BTCUSDT

Bitcoin price forecast | BTCUSDT

However, a bullish scenario emerges if BTC holds above $80,000 and reclaims the midline at $85,447.

This would invalidate near-term bearish pressure and open the door for a potential breakout toward $90,000.

The Accumulation/Distribution Line (ADL) remains steady at 1,593, indicating neutral capital inflows.

A surge in ADL alongside price recovery could confirm renewed bullish momentum.

Until then, BTC remains vulnerable to macroeconomic uncertainty, with the next major move hinging on the imminent Fed rate decision. 
 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold sinks as risk appetite improves on Trump-Powell calm, China tariff relief hopesGold prices plunged more than 2.50% on Wednesday as risk appetite improved due to a possible de-escalation of US-China tensions and US President Donald Trump's statement that he doesn’t plan to fire Federal Reserve (Fed) Chair Jerome Powell.
Author  FXStreet
Yesterday 01: 32
Gold prices plunged more than 2.50% on Wednesday as risk appetite improved due to a possible de-escalation of US-China tensions and US President Donald Trump's statement that he doesn’t plan to fire Federal Reserve (Fed) Chair Jerome Powell.
placeholder
Bitcoin Price Stabilizes After Surge — Is It Gearing Up for Another Leg Up?Bitcoin price is moving higher above the $93,200 zone. BTC is consolidating gains and might continue higher above the $94,000 zone in the near term.
Author  NewsBTC
Yesterday 03: 22
Bitcoin price is moving higher above the $93,200 zone. BTC is consolidating gains and might continue higher above the $94,000 zone in the near term.
placeholder
Gold price bulls could regain control amid fading US-China trade deal optimismGold price (XAU/USD) attracts fresh buyers during the Asian session on Thursday, reversing the previous day's heavy losses and snapping a two-day losing streak to the $3,260 area or the weekly low.
Author  FXStreet
22 hours ago
Gold price (XAU/USD) attracts fresh buyers during the Asian session on Thursday, reversing the previous day's heavy losses and snapping a two-day losing streak to the $3,260 area or the weekly low.
placeholder
Forex Today: Easing geopolitical tensions support USD ahead of mid-tier dataThe US Dollar (USD) stays resilient against its peers early Thursday after posting gains for two consecutive days.
Author  FXStreet
19 hours ago
The US Dollar (USD) stays resilient against its peers early Thursday after posting gains for two consecutive days.
placeholder
Gold price snaps selling off after fresh Trump comments on tariffsGold price (XAU/USD) is turning positive, recovering above the $$3,300 level at the time of writing on Thursday after two days of firm selling pressure since it topped at $3,500 on Tuesday.
Author  FXStreet
18 hours ago
Gold price (XAU/USD) is turning positive, recovering above the $$3,300 level at the time of writing on Thursday after two days of firm selling pressure since it topped at $3,500 on Tuesday.
Related Instrument
goTop
quote