Massive Bitcoin (BTC) and Ether (ETH) transactions have taken place following Donald Trump’s announcement about advancing a national cryptocurrency reserve. These movements have raised suspicions of potential insider trading. “If only we were friends with Trump,” joked Daniel Muvdi, head of markets at the broker Quantfury. According to the specialist, certain trading activities suggest that individuals close to the former president may have operated with prior knowledge of his announcement regarding the creation of a national cryptocurrency reserve.
Muvdi finds it strange that “huge, highly leveraged trades started appearing just minutes before Trump’s post, all over the place, with liquidation points at 1% or less.” Given this scenario, Muvdi warns that “Trump will pump the market whenever he wants just by mentioning ‘NBR’ (National Bitcoin Reserve),” suggesting that his close associates could benefit from such statements.
Suspicious BTC and ETH Whale Earns Over $6 Million in a Single Day
According to Lookonchain, an on-chain data analytics firm, a whale took large long positions in Bitcoin and Ether futures worth over $200 million, using 50x leverage. This trade, executed just hours before Trump’s announcement, resulted in a $6.8 million profit in a single day. What stands out about this transaction is the extreme leverage and the low liquidation margin—almost as if the trader was certain prices wouldn’t drop.
The whale entered the long position when Bitcoin was trading at $85,908, setting a liquidation point at $84,752. For Ether, the entry price was $2,197, with liquidation at $2,149. “The people with this level of capital have access to information that the average investor does not,” commented the popular trader known as AltcoinGordon.
Following Trump’s announcement that he had ordered his presidential team to move forward with the creation of a national cryptocurrency reserve, BTC and ETH prices surged by more than 10%, as reported by CriptoNoticias.
“This Government Has No Shame,” Says Investment Manager
Meanwhile, investment manager Hugo Ferrer criticized the whale’s trading activity, calling it a blatant example of market manipulation. Additionally, this trader secured another $300,000 profit today by shorting BTC. “This whale seems like a dirty player using maximum leverage,” Lookonchain remarked. The analytics firm noted that the whale has used 100x leverage to execute 75 long and short BTC positions in less than a month, with a 62.66% win rate but a total loss of $1.22 million.
With these developments, suspicions of insider trading in the cryptocurrency market continue to grow.
This article is translated from the original at Criptonoticias