Cryptocurrency trader @qwatio, identified as the ’50x Contract Whale’, generated a substantial $1.97 million profit by closing a Bitcoin short position early this morning. This latest gain contributes significantly to his reported total profits exceeding $26 million across 2025, achieved via three distinct wallet addresses on the decentralized derivatives exchange Hyperliquid.
The trade commenced with @qwatio deploying $7.3 million in margin to initiate the Bitcoin short. During the course of the position, it encountered significant drawdown pressures, indicating considerable volatility and risk inherent in leveraged trading strategies. To manage this, the trader increased his position on June 13th with an additional $107,766 in costs.
@qwatio executed the closure of the position strategically as the Bitcoin price fell beneath the key psychological level of $100,000. This exit successfully recouped previous unrealized losses while locking in the nearly $2 million profit. The sophisticated maneuver underscores the high-stakes environment of leveraged cryptocurrency trading and the strategies employed by large-scale participants to capitalize on market movements.