The trader who accurately timed the October 10 flash crash has opened a new and much larger short position on Bitcoin (BTC), raising concerns that another major move could be on the horizon.
As of writing, Bitcoin has slipped to around $112,000, but while capital flows out of the top crypto, it appears that smart money is shifting toward its fastest-growing Layer-2 project, Bitcoin Hyper (HYPER).
Bitcoin Hyper has already bagged $23.5 million in presale, with over $4.5 million contributed in just the past two weeks. Many investors could be seeing the project as a chance to position early in a digital asset that could deliver a stronger upside than BTC.
The interest in Bitcoin Hyper largely stems from its role as a potential new demand catalyst for BTC, creating an ecosystem that channels liquidity back into Bitcoin while expanding its use cases during a bearish market.
For now, the presale remains open, though the pace of funding suggests it may not stay that way much longer. The current round closes in 28 hours, with HYPER priced at $0.013115 per token before the next scheduled increase.
The Market Is Bracing for Impact, Yet Bitcoin Hyper Keeps Attracting Capital
On October 10, the crypto market was caught off guard as Bitcoin suddenly plunged in what traders now refer to as the month’s flash crash. Within minutes, billions in leveraged positions were wiped out, sending BTC tumbling from around $122,000 to nearly $104,000 before partially recovering.
Exchanges across the board struggled to keep up with the volatility, and liquidations topped $19 billion in under a day, marking one of the most violent single-session moves since March.
According to on-chain analysts, the event was preceded by a huge short position placed on the derivatives platform Hyperliquid, and the entity behind it reportedly made close to $191 million in profit from the collapse.
However, the same wallet address has now reappeared, this time with an even larger $392 million short position in Bitcoin, as reported by LordOfAlts on X. The trader speculates that this could be either one of the best-informed positions in crypto or the setup for a potential short squeeze of historic proportions.
This development has reignited market speculation about Bitcoin’s next major move. Yet, what’s surprising is that while whales are betting against BTC in the short term, projects like Bitcoin Hyper are drawing capital in the opposite direction – toward long-term innovation built on Bitcoin’s foundation.
The split between shorts and builders could define this cycle, and Bitcoin Hyper is fast becoming the project that embodies that divide.
Investors Are Confident in Bitcoin Hyper’s Role in the Next BTC Cycle
As mentioned, over the past two weeks, Bitcoin Hyper has added roughly $4.5 million to its total raise, with purchases amounting to tens of millions of HYPER tokens, many coming from deep-pocketed investors.
One large transaction in particular stood out. Instead of shorting the market, a single whale scooped up about $833,000 worth of HYPER, positioning heavily on the long side of the project’s growth.
Retail investors soon followed, contributing around $1 million by Friday last week, while an additional $500,000 flowed in between the weekend and Monday.
Bitcoin Hyper’s capital inflow is all due to what the project represents, which is a structural shift in how Bitcoin could generate new sources of demand.
Bitcoin’s price swings, as seen recently, still reflect its dual nature as both a store of value and a risk asset. It remains highly reactive to macro shifts – first to stronger dollar policies and profit-taking after January’s highs, and later to renewed tariff fears in April that reinforced the market cooldown.
Source: TradingView
A new form of demand, driven by utility rather than speculation, could change that narrative, and this is precisely what Bitcoin Hyper is aiming to create.
Once live, the network will serve as an ecosystem where hybrid applications can be built, combining Solana’s speed and processing power with Bitcoin’s security layer. These apps could span DeFi, gaming, and real-world use cases, and even a small percentage of Bitcoin’s supply flowing through this ecosystem could have a massive impact on BTC’s overall value.
Whale Activity Signals Something Big Brewing Inside Bitcoin Hyper
Aside from bucking the market trend, the wave of whale purchases around Bitcoin Hyper suggests that something big is brewing.
Whales often have access to insights and information not readily available to the public. Many are either high-net-worth individuals or institutional players with access to deeper market data and project-level intelligence.
So when these investors are reducing exposure to BTC but increasing positions in Bitcoin Hyper, it speaks volumes about where they see long-term potential.
Confidence in the project is also reflected in its staking activity, which has already surpassed 1 billion HYPER tokens. This suggests that both whale and retail participants are locking in their holdings early to earn the protocol’s dynamic 50% APY, signaling long-term confidence rather than short-term speculation.
Such conviction is one reason why predictions for Bitcoin Hyper remain extremely bullish.
Top crypto media outlet 99Bitcoins and influencers such as Borch Crypto and Crypto Gains have discussed the project’s 100x potential, citing its unique role in creating new utility and demand within the Bitcoin ecosystem.
Swim With the Whales Before the Presale Window Closes
Those who truly shape the stories in crypto are often the ones able to separate real opportunities from the noise. Fortunately, this market leaves traces, and by following the whales, it’s becoming clear where the smart money is moving.
To swim alongside them, you can still join the Bitcoin Hyper presale and purchase HYPER directly through the project’s website using SOL, ETH, USDT, USDC, BNB, or even a credit card.
For the best experience, Bitcoin Hyper recommends Best Wallet, one of the best crypto and Bitcoin wallets in the market. HYPER is already listed in its Upcoming Tokens section, making it simple to buy, track, and claim once live.
Stay connected with the Bitcoin Hyper community on Telegram and X for the latest updates.
Visit the Official Website Here
The post Trader Who Timed the Flash Crash Is Back – Bitcoin Hyper’s $23.5M Presale Shows Where Smart Money’s Positioning Next appeared first on Cryptonews.
