They say timing is everything.
That could not be more true than the case of one crypto trader who netted more than $7 million after piling up 50x-levered bets on Bitcoin and Ethereum right before President Trump sent markets soaring on Sunday with a single post.
It was an incredibly timed bet that had everyone in crypto talking about whether Trump's inside circle, or those close to the President, may have known that he would be posting about the status of his working group's efforts to advance a U.S. crypto reserve.
After his post on Truth Social, Bitcoin advanced by about 10% while Ethereum surged 13%.
"That looks very suspicious," said Options Insight founder Imran Lakha, who pointed out that it wasn't just the timing of the trade that raised eyebrows. "Because literally we've just had a week where crypto's been flying around 10% in a day, right? And the leverage that they're getting on here means that they'll get liquidated in a 2% move on that trade."
According to The Block , this trader's entire position would have been liquidated if Ethereum's price had fallen by just $24 more before Trump's post sent prices surging.
To be fair, there isn't necessarily any proof beyond speculation that the trader in question may have known about Trump's plans to post about the crypto reserve updates — but to Lakha, it'd be hard to understand why someone would all of a sudden feel the urge to bet on a one-way swing with such high conviction.
"The level of certainty that you must have ... it's either certainty or stupidity, basically," Lakha said.
President Trump's working group is slated to host the first Crypto Summit on Friday, which should provide more details into how a strategic crypto reserve might come together.