As US President Donald Trump becomes one of the most influential factors in the cryptocurrency market, his statements and moves can cause the market to rise or fall.
The closest example to this is the rise experienced on Sunday and the fall that followed immediately thereafter.
While Bitcoin (BTC) and altcoins witnessed a massive surge on Sunday when Trump announced the US Strategic Crypto Reserve, the market crashed after the new tariff plan for Mexico and Canada came into effect.
Billions of dollars were liquidated during the pump dump of the last few days, while some investors made huge profits.
A crypto whale, who allegedly was an insider, made huge profits during the pump dump.
According to Lookonchain’s post, an alleged insider whale made $81 million in unrealized profits on an Ethereum (ETH) transaction.
The whale, who opened a short position on Ethereum with 50x leverage, began to close some of his short positions to ensure perfect profits.
Ethereum, which has fallen 11.6% in the last 24 hours, continues to be traded at $2,089.
As $ETH drops, the whale who shorted $ETH with 50x leverage is now sitting on an unrealized profit of over $81M!
The whale has already started closing part of short positions to lock in profits. https://t.co/8utezkrdPy pic.twitter.com/edRVWAnQzf
— Lookonchain (@lookonchain) March 4, 2025
*This is not investment advice.
