He Shorted BTC and ETH Minutes Before the Drop — But Missed the Real Crash

Many are talking today about that big on-chain trader who first swapped his BTC for ETH right before ETH started pumping — and then, just a couple of days ago, shorted both BTC and ETH for millions and profited from yesterday’s crash.

Since he trades on-chain, everyone could literally watch him build up his short positions minutes before the drop. It’s hard to believe someone could pull that off without insider info (and it’s even stranger that he does it all so publicly), but what really interests me is something else.

If this person truly knew about the upcoming news that would send the markets down — why short only BTC and ETH, which fell just 15–20%? Why not ATOM, which crashed by almost 99%? Or AERO, TON, and other assets that lost 50–80%?

Here is my answer. Even if you know what’s coming, that doesn’t mean you know how each token will react. Apparently, BTC and ETH markets are more predictable than most others. That’s probably why other coins fell so much more — their traders had no idea what was happening or what it could lead to.

So if you trade more exotic cryptocurrencies, keep that in mind — and be extra careful.

On rabbit.io there’s a great option for such volatile moments — fixed rate. You lock in the exchange rate for a few minutes while you send your transaction. Simple, convenient, and safe.