A cryptocurrency trader known as 'Hyperliquid 50x Whale' executed trades around a US Federal Reserve decision, turning $690,000 into $1.83 million within three hours.
Aggressive Trading Tactics Of Hyperliquid 50x Whale
According to analyst @EmberCN, trading began before the Fed’s announcement. Starting at 11:00 a.m., it opened a short position of 326 Bitcoin (BTC) at $84,566, worth $27.6 million. Before the announcement at 12:48 p.m., it closed the position at $83,927, securing a $215,000 profit. After the announcement at 1:01 p.m., the trader shorted 256 BTC at $84,404, closing six minutes later at $83,906, adding another $250,000. At 1:10 p.m., the position was reversed to long with 518 BTC at $84,500 and closed at $85,700 by 1:59 p.m. for a $620,000 gain. By 2:00 p.m., the trader shorted 384 BTC at $85,666 to cover at $85,146 two minutes later, gaining $106,000 more.
Federal Reserve Rate Decision and Market Impact
The Federal Reserve left its policy rate unchanged at 4.50%. Projections suggest a 50-basis-point cut in 2025. Starting April, the Fed will reduce its balance drawdown pace, cutting Treasury cap from $25 billion to $5 billion monthly while keeping agency debt and MBS caps at $35 billion. Fed Chair Jerome Powell noted inflation might rise to 2.7% in 2024 due to tariffs, up from 2.5% in January. Eleven of 19 FOMC members foresee at least two rate cuts this year.
Speculation Over Hyperliquid 50x Whale’s Identity
The enigmatic trader has garnered attention for large trades on platforms like Hyperliquid and GMX. The wallet stakes in Bitcoin, Ethereum, and Chainlink fuel identity speculation. Some link the account to North Korea's Lazarus group, but ZachXBT denies such claims. Theorists suggest illicit fund use for high-risk trades might drive criminal gains. Analytics firm Lookonchain notes $9.46 million earned in eight days. However, the trader caused market disturbances, including a $4 million Hyperliquid liquidity pool loss.
Hyperliquid 50x Whale has shown adaptability and leveraged Fed volatility into profit but raised questions about the legality of such methods.
