According to @lookonchain, a trader dubbed BitcoinOG realized over 160 million USD in profit by shorting BTC and ETH during the crash (source: @lookonchain on X, Oct 14, 2025). @lookonchain reports whale 0x9eec9, with 31.8 million USD in realized profit, is currently holding 98 million USD in Hyperliquid shorts across DOGE, ETH, PEPE, XRP, and ASTER (source: @lookonchain; data via Hyperdash trader page cited by @lookonchain). @lookonchain also cites whale 0x9263, with 13.2 million USD in realized profit, holding 84 million USD in Hyperliquid shorts on SOL and BTC (source: @lookonchain; data via Hyperdash trader page cited by @lookonchain). These disclosed positions indicate concentrated bearish positioning by those profitable wallets on Hyperliquid across BTC, ETH, SOL, DOGE, XRP, PEPE, and ASTER (source: @lookonchain).

According to @KobeissiLetter, crypto began selling at 9:30 AM ET on Oct 10, well before the 10:57 AM ET tariff post, while whales were already loading shorts in anticipation of a drop, source: @KobeissiLetter. A whale then bought over 23 million dollars of shorts at 4:30 PM ET and 4:49 PM ET, source: @KobeissiLetter. Longs were liquidated at a 7:1 ratio to shorts, and the source estimates that likely over 80 percent of the 1.6 million liquidated traders were levered long, source: @KobeissiLetter. Whales reportedly sold shorts into the 5:20 PM ET bottom about 30 minutes later as volume crushed longs, source: @KobeissiLetter. Trading volume produced the first ever 20,000 dollar BTC candlestick and a 380 billion dollar crypto market cap drop before a V-shaped bottom as shorts were closed, source: @KobeissiLetter. The event was described as the largest liquidation on record at nine times the previous record, source: @KobeissiLetter. For traders, the source highlights a pattern of whale shorts preceding mass long liquidations and a rapid reversal, underscoring timing risk during liquidity cascades, source: @KobeissiLetter.

According to @BullTheoryio, two days before a Truth Social post from President Trump, an early Bitcoin wallet allegedly opened multi‑billion‑dollar short positions on BTC and ETH based on on‑chain activity (source: @BullTheoryio, X, Oct 11, 2025). According to @BullTheoryio, Trump first warned of major China tariffs and then officially announced 100% tariffs on all Chinese imports effective November 1 from the White House podium, which the author describes as an unpriced shock (source: @BullTheoryio, X, Oct 11, 2025). According to @BullTheoryio, markets sold off with the S&P 500 down over 2% on the day, BTC dropping to $102K, altcoins falling 70–90% within minutes, and $20–22B in crypto liquidations with nearly $1T in market cap erased in under three hours (source: @BullTheoryio, X, Oct 11, 2025). According to @BullTheoryio, 30 minutes before the official announcement the same whale doubled short exposure and later closed for an estimated $200M profit, timing that the author highlights as unusually precise (source: @BullTheoryio, X, Oct 11, 2025). According to @BullTheoryio, the move looked structural with cascading liquidations across exchanges, including a 35–40% USDE depeg, suggesting a broad leverage flush rather than retail selling (source: @BullTheoryio, X, Oct 11, 2025). According to @BullTheoryio, the leverage reset leaves shorts crowded and strong hands accumulating, a setup the author frames as historically consistent with bull‑market continuation after a purge (source: @BullTheoryio, X, Oct 11, 2025).

According to @EmberCN, the tracked whale sold 6,037 ETH at 4,221 USD on Sep 22 after buying at 2,299 USD in June, realizing about 11.6 million USD profit, source: @EmberCN. After selling, the market kept rising and the trader opened roughly 137 million USD in shorts on Hyperliquid with about 4 million USD unrealized loss, source: @EmberCN and hyperbot.network/trader/0x8deCc13b6E83873a78126E99036F9442019FD0b5. Position details show a 40x short of 800 BTC at 120,892 entry with 129,848 liquidation and a 20x short of 8,000 ETH at 4,502 entry with 5,109 liquidation, source: @EmberCN and hyperbot.network/trader/0x8deCc13b6E83873a78126E99036F9442019FD0b5.

According to Lookonchain, whales shorting XPL on Hyperliquid deposited large amounts of USDC to avoid liquidation amid alleged manipulation, posted on Aug 27, 2025 (Lookonchain). According to Lookonchain, address 0x142a deposited 44M USDC and address 0x0Aa9 deposited 29M USDC, totaling 73M USDC in added margin (Lookonchain). According to Lookonchain, this activity signals sizable short exposure in XPL on Hyperliquid and active liquidation risk management by large traders (Lookonchain).