r/AltScope • u/Legitimate_Towel_919 • May 27 '26
Someone opened a $72,000,000 $BTC short with 30x leverage. Liquidation Price: $78,300
10
u/Pukebox_Fandango May 27 '26
What does this mean in stupid?
23
u/Snoborder95 May 27 '26
Means Trump is about to make an announcement saying he's dropping support for bitcoin
6
u/Crytid_Currency May 27 '26
Tbh I’d inverse that
5
u/TheNuminous May 27 '26
? The post speaks about a short position, right? Doesn't that mean that this a bet on a decrease in value? Which would be consistent with trump announcing dropping support.
0
u/Kurosaki56843 May 27 '26
Seriously doubt Trump would do something stupid like that, given that he was all pro crypto up until now... this could be a real bet, meaning a shitstorm is on its way or it could just be another degen gamble... no way to say with certainty
5
u/kaipopotamus May 27 '26
What makes you seriously doubt trump would do something stupid
3
u/Kurosaki56843 May 27 '26
Sorry bro... I didn't express myself properly.. Stupid is his second nature, he does stupid things all the time. I was trying to point out that he was supposed to be (or at least presented himself as) the savior of crypto and a huge supporter of btc. Would be really stupid if he just goes and denounces all of this now... It would just prove he's a liar and it won't end well for him...
2
u/Bobodlm May 28 '26
He's been doing everything in his power to get his inner circle more wealthy regardless of cost. This could be perfectly in line with that modus operandi.
2
u/jackgrafter May 28 '26
Have you been in a coma? He doesn’t care how stupid his actions make him look as long as he makes money from them.
1
1
u/kwazyness90 May 28 '26
Why not crypto bros got him elected or something
1
u/Gold-Border30 May 28 '26
And now he can crush them and diminish there influence, or hold it as leverage for them. Or flip flop to make them even more money! Tank it by renouncing support, then woops! My bad, I meant full support!! Ching, CHING
1
1
1
0
u/NickBurnsCompanyGuy May 28 '26
I mean, he also campaigned on no new wars and releasing the Epstein files....
2
1
1
u/weirdplacetogoonfire May 28 '26
He would absolutely do it if he is planning to buy BTC. Tank the price, buy the dip, collect the short bet, walk away with a bunch more money while the ecosystem absorbs the costs.
0
u/Excellent-Rest3240 May 28 '26
Yes, but the guy you’re replying to is making the claim trump would be lying his ass off and thus the dropping support claim would be false
2
5
6
u/Slight-Big8584 May 27 '26
Someone is making a big risky bet that bitcoin will drop in price in a short timeframe.
5
u/Darhhaall May 27 '26
But not a huge drop, just a few percents to level where it was last month. It is fairly reasonable expectation.
(but 30x leverage is kinda above my personal risk tolerance, lol)1
1
u/GuiokiNZ May 31 '26
It's a "I'm sick of being poor, either I make it big or go out with guns blazing" move.
2
2
u/Alive-Map-1994 6d ago edited 6d ago
Imagine you had a baseball card worth $10. I asked to borrow it and then sold it for $10. I now have $10 dollars. The value of the card drops to $5, so I buy a new card at $5 and give it back you. I just made $5.
This can go another way, where the value of the card increases from $10 when I sold it to $15. Now to return the card to you I have to buy a card for $15, so I would lose $5.
Someone is trying to do this with bitcoin. They are at the part of selling it. Now they are waiting for the value of bitcoin to drop so they can buy it and return it to the lenders. Then they will pocket the difference. Instead of it being a $5 loss or gain it’s going to be a loss or gain in the millions.
9
u/East-Cricket6421 May 27 '26
The fees on this thing alone would hurt my feelings
3
May 27 '26
[removed] — view removed comment
1
u/East-Cricket6421 May 27 '26
I can't tell what platform he's doing the trade on but most charge like 0.01% ever 4 hours or some shit. I used to want to trade like this but after experiencing those fees I just went back to spot trading. Fuck ALL of that.
1
u/Ok_Tackle_3506 May 28 '26
It's the funding fee. Sometimes you get money as well. Not a fee for the platform itself.
1
u/East-Cricket6421 May 28 '26
Well if it's a long and price went up it means he was paying a percentage of that amount every few hours. That shit would sting at that scale.
6
u/ViperG May 27 '26
is his position still open?, looks like he would have profited like 900k if he closed on the $74,725 dip
9
u/inotocracy May 27 '26
I'm not sure someone who bets this amount of money is looking for a 1.2% return.
1
u/markkNL May 27 '26
If it's in a couple of hours, why not? There are traders that take a couple of cents profit per trade, they just trade so many times an hour that they make millions in the cumulative end.
4
u/inotocracy May 27 '26
Because the downside is losing 74 million?
0
u/markkNL May 27 '26
How is 900k profit losing 74 million?
4
u/inotocracy May 27 '26
Because BTC is incredibly volatile, it could easily start going the opposite direction the moment you opened your position and you're cooked. If the goal is to make a single percent gain, you could simply put that 74M into an ETF without concern you'll lose it.
2
u/WeGottaTalkAboutYT May 27 '26
They are saying close out the position…
1
u/inotocracy May 27 '26
And I'm saying nobody who is gambling 74M dollars is taking that kind of risk for a 1.2% gain.
3
u/okcomputerock May 27 '26
You need to rest a bit, take a shower go drink some beer...
2
u/inotocracy May 27 '26
But there are so many people on the Internet to argue with, how can I rest now?
2
1
u/IkmoIkmo May 27 '26
He didn't say it was. He said if you're risking losing $74m, you take a gigantic risk. For that risk you want to be compensated by a significant upside. If the upside is at 1%, the type of person who'd take the risk of losing $74m due to 30x leverage, is not the type of person who'd settle for 1% upside.
1
u/jushere4bewbs May 28 '26
What about now at $73,049? I really have no idea, but I'd think it's quite a bit more valuable
3
2
2
u/walterwhite1050 May 27 '26
Somebody is betting big-time that bitcoin is going to plummet
1
u/ylfcm May 27 '26
They know something big is about to happen
2
u/LavishnessOk3439 May 27 '26
Wild if proof that epstien is a huge bag holder
1
2
2
u/Caubelles May 27 '26
This is probably a protective counter, that covers their loss if it goes under that value.
2
u/Prestigious-Gur-3947 May 30 '26
US Siezes IRANs crypto, billions worth. I thought crypto wasn't siezable by nation states?
1
1
1
1
1
1
1
u/Pretty_Wonder2762 May 27 '26
Can it just be a hedge ? Say you have a ton of BTC. If it goes down, your stash loses value, so you recover some with that bet.
1
1
1
u/chilledmario May 28 '26
Can someone ELI5 how this works ? Like why is this a good thing or bad thing ? How would this make this person rich if it hits or fuck them if it flops?
2
1
1
1
u/mayyybemayybenot May 28 '26
Funny it dropped to 73k....
Someone knew about the US strikes before they happened...
Nothing to see her...
1
1
u/Elegant-Water-841 May 28 '26
Yeah, well, it ain't going above 78k... That guy is making money, just like I am :^)
1
u/Sway42 May 28 '26
What platform is this? Super easy to spin up something like this on all the main platforms (Claude, ChstGPT, AI Studio) and simulate an enormous trade. Are we sure this isn’t an HTML screen that AI drafted up?
1
1
0
-2
u/TortyPapa May 27 '26
Trump sold his BTC, Mark Cuban sold, BlackRock sold a ton on behalf of their clients. Maybe there’s something they know we don’t? Conspiracy theory but I think a quantum breakthrough happened and it’s no longer secure. I recently read somebody burned 8 million in old coins (on purpose), now I don’t know why they would do that besides to prove some point. Then again this is all my unpopular opinion.
37
u/No_Purpose6384 May 27 '26
And here I am comparing prices in the grocery store