A trader with a track record of high-stakes bets against Bitcoin has made headlines again with a mammoth new short position. This action has sparked worries within the cryptocurrency community regarding its implications for market stability.

Whale Increases Bitcoin Short by $392 Million

Reportedly, financial analyst Jacob King revealed that a prominent whale, known for their prior victories against Bitcoin, has elevated their short exposure by a staggering 140%, now totaling $392 million. This trader had previously executed a similar strategy just before last week’s major market crash and netted considerable profits.

JUST IN: Insider Bitcoin Whale who shorted the last crash, has boosted their short bet by a whopping 140%, slamming down a staggering $392 million wager that BTC will tank. 🚨 Bitcoin crash 2.0 incoming! pic.twitter.com/ZwFOmp67nb
— Jacob King (@JacobKinge) October 14, 2025

Arkham Intelligence identified the same wallet as the “Trump Insider Whale,” which previously shorted $700 million in BTC and $350 million in ETH right before last Friday’s market downturn, reportedly reaping around $200 million in gains.

The wallet has since further increased its BTC short position by $127 million, following a $40 million USDC deposit to the Hyperliquid platform, bringing total shorts to nearly $300 million.

Massive Wallet Linked to Billions in Cryptocurrency

According to StarPlatinum, the wallet address 0xb317… holds over $10 billion in assets, consisting of more than 46,000 BTC and substantial amounts of staked ETH. The wallet started its large short position just before the Trump tariff announcement on October 10, closing out with an impressive $192 million profit. These trading activities have raised eyebrows due to their timing and scale.

This is the most dangerous address in crypto right now: 0xb317d2bc2d3d2df5fa441b5bae0ab9d8b07283ae It deposited $40M USDC on October 13 and opened aggressive BTC shorts worth $343.6M. (around 3,000 BTC at 10x leverage)
— StarPlatinum (@StarPlatinumSOL) October 13, 2025

Domain records link this address to “garrettjin.eth,” potentially associated with former BitForex CEO Garrett Jin, who has denied any links to the wallet. However, patterns suggest preemptive trading based on news announcements, with funds being withdrawn post price movements.

Community Raises Concerns About Market Manipulation

Several traders have expressed suspicion regarding the accuracy of this whale’s timing. EGRAG CRYPTO commented on the Arkham report, stating:

“If this whale makes money from this trade based on Trump announcement in the next hours or days, then he should be investigated.”

Others echoed these concerns, indicating that this may point to beyond ordinary trading tactics. Janis Kluge, a researcher at SWP Berlin, remarked:

“Crypto people are realizing today what it means to have unregulated markets: Insider trading, corruption, crime, and zero accountability.”

After the downturn, reports indicated that over 250 wallets on Hyperliquid lost millionaire status, with a separate trader opening a 40x long position on Bitcoin amid the same events.

Binance, mentioned in connection with market rumors, denied any technical failures during the event, categorizing the incident as a “display issue.” As noted in our previous report, the platform asserted that all core systems remained operational, with $283 million in user compensations confirmed.