Insider Trader Scorches $1.6 Million Closing XRP, SOL Positions as BTC Shorts Remain Profitable

An anonymous crypto insider trader incurred a substantial $1.644 million loss closing out short positions on XRP and Solana (SOL) tokens.
This significant loss comes shortly after generating an estimated $12 million profit the previous day, starkly illustrating the extreme volatility inherent in cryptocurrency markets.
Despite the losses on XRP and SOL, the trader’s Bitcoin (BTC) short positions remain profitable, having been opened at a higher entry point of $116,736.3 per coin.
Conversely the trader’s short bets against Ethereum (ETH) are currently showing an unrealized loss of approximately $1.094 million.
The trader continues to hold substantial exposure with approximately $105 million worth of active short positions still open on BTC and ETH.
Insider trading activity is closely monitored as it often reflects the judgment of sophisticated market participants and can influence sentiment.
This rapid reversal from significant profit to substantial loss underscores the high-risk, volatile conditions typifying current digital asset markets.