Crypto 'Whale' Bets $80M on Bitcoin, Oil, and S&P 500 Amid Market Chaos
A major cryptocurrency trader, known as a 'whale', has opened an $80 million leveraged position across Bitcoin futures, S&P 500 contracts, and Brent oil. The move comes amid volatile market conditions, with Bitcoin prices fluctuating between $66,000 and $68,000 this week. The trader's aggressive strategy follows previous losses totalling $77 million in late 2025 and early 2026. The whale constructed the position through multiple trades on the Hyperliquid decentralised exchange between Tuesday and Wednesday. Their largest bet—a $40 million short on Bitcoin—was placed near $68,760 with 7x leverage. A liquidation price of $80,083 was set, meaning the position would automatically close if Bitcoin rises beyond that level.
Alongside the Bitcoin trade, the whale took a $2 million short on synthetic S&P 500 Index contracts. They also opened a $37 million long position on synthetic Brent crude oil, with liquidation triggered only if prices fall below $93 per barrel. The combined leverage across all positions reached 7x, significantly amplifying both potential gains and risks.
This latest trade follows earlier setbacks for the same wallet. In December 2025, the whale lost $37 million during its first month of trading. Months later, another $40 million was wiped out after reversing profitable short positions. The timing coincides with broader market turbulence, including geopolitical tensions in the Strait of Hormuz, where Iran's blockade and attacks on oil tankers have driven Brent crude prices between $100 and $120 per barrel since early March.
In response to supply fears, the US released 172 million barrels from its strategic reserves, while the UAE bolstered security measures. These developments have heightened short-term market nervousness, though futures data suggests prices could drop if tensions ease. The whale's new $80 million bet spans cryptocurrency, equities, and oil, all under high leverage. With Bitcoin's liquidation threshold at $80,083 and oil's at $93, the positions remain vulnerable to sharp price swings. The trader's history of heavy losses adds further uncertainty to the outcome of these latest moves.
