A single crypto trader just raked in a staggering $10 million profit by betting against Bitcoin—in under two minutes. The pseudonymous whale, known as “Gigantic Rebirth” or GCR, pulled off the high-stakes gamble using an eye-watering 40x leverage on the Hyperliquid platform. Not for the faint of heart.
GCR short-sold Bitcoin while it was hovering around the $82,000-$84,000 range. Total value of shorts closed? A cool $516 million. Just another day in crypto, right? The trader has quite the reputation in digital asset circles, previously challenging Terra founder Do Kwon to a $10 million bet on LUNA before its catastrophic collapse.
High-risk, high-reward: Half-billion in shorts closed while Bitcoin flirted with $80K+ territory. Just another wild day in crypto.
The market didn’t take this sitting down. Other traders pumped $10 million trying to push Bitcoin higher and liquidate GCR’s position. Nice try. Didn’t work. The trader closed the position before anyone could force liquidation, walking away with millions while leaving others in the dust. This approach contradicts Michael Saylor’s view that Bitcoin remains strong even amid high-risk trading strategies.
This wasn’t just throwing darts at a board. GCR used a cross-position strategy that risked most of their portfolio. Timing was everything. Two minutes was all it took. Some whispered about insider knowledge, but those claims were quickly dismissed. With reduced block rewards of 3.125 BTC per block following the 2024 halving, Bitcoin’s price fluctuations are increasingly sensitive to large market moves. With Bitcoin’s bear market indicator predicting a potential 65% crash to $40,000, GCR’s timing may have been impeccable.
Hyperliquid’s platform made the extreme leverage possible, though they’ve since lowered maximum leverage limits. Funny how that works. The trade was verified on HypurrScan, a block explorer, confirming what many couldn’t believe.
The crypto community is divided. Some praise the trader’s gutsy move; others question its impact on market stability. It’s a stark reminder of crypto’s wild volatility—where millions can be made or lost in literal minutes.
The trade raises serious questions about risk management at exchanges and the future of leverage in crypto markets. But one thing’s crystal clear: in the high-stakes world of cryptocurrency trading, the bold are sometimes rewarded. And sometimes obliterated. This time, GCR walked away with the jackpot.
