Crypto Whale: Shorts Altcoins with $4M Losses

A prominent crypto trader, known for shorting a basket of altcoins, boasts lifetime profits of $86.36 million but now grapples with $4.06 million in floating losses across 29 short positions. He's betting against 28 altcoins including ZEC, TON, NEAR, and LIT, plus CL crude oil, with total positions valued at $47.66 million—and he's still piling in. The shift hit on May 4, flipping prior gains to losses as war-end expectations fueled a broad market surge, pressuring shorts in this volatile crypto market crash scenario. Just two hours ago, he deposited $250,000 USDC into Hyperliquid, boosting liquidation prices, then trimmed PEPE and XRP shorts, shrinking overall exposure to $46.38 million. Despite the dip, his altcoin shorts still float $9.01 million in profits, with $13.68 million earned over the past month—proving resilience in altcoin price prediction plays. This echoes last summer's Bitcoin rally that crushed similar bets, but with BTC hovering strong, he eyes more downside amid hype around TAO and RAVE tokens.