- Trader Garret Jin profited massively from BTC and ETH shorts.
- Executed prior to Trumpโs China tariff announcement.
- Large-scale liquidation affected altcoins significantly.
Garret Jin, a crypto trader, netted over $160 million by executing massive shorts on BTC and ETH before Trumpโs tariff announcement. This move, attributed to comprehensive analyses, had significant repercussions on coins like SOL, DOGE, and XRP.
Trade Analysis
Garret Jinโs massive shorts on BTC and ETH coincided with Trumpโs China tariff announcement, resulting in significant market movements. Jin utilized Hyperliquid DEX, noting client capital directed the trades. Reports suggest positions exceeded $1.1 billion notionally.
Jin denies any insider connections, attributing successful market timing to macro and technical analysis. His public replies stressed client-managed funds and absence of strategic ties to President Trump.
โThe fund isnโt mine โ itโs my clientsโ. We run nodes and provide in-house insights for them.โ โ Garret Jin, Trader, Hyperliquid
Market Impact
Market reactions saw widespread liquidations, heavily impacting altcoins like SOL, DOGE, and XRP. Trading venue Hyperliquid experienced high transactional activity, dispelling concerns around centralized exchanges.
Regulatory Implications
The broader implications hint at potential regulatory scrutiny given Jinโs significant profits. Community reactions on X highlight suspicions, but on-chain data lacks conclusive evidence.
Historically, such trades echo prior market shifts linked to new policies and announcements. Jinโs actions might invite future regulatory examination to clarify oversight on large-scale crypto transactions, emphasizing perpetual decentralized exchange involvement.
Jinโs trade underscores the need for transparency and monitoring in volatile environments shaped by both technological advancements and geopolitical developments.
About the author
Trader Nets $160M from BTC, ETH Shorts on Trump Tariff News
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