Trump's delay in enforcing EU tariffs boosts Bitcoin price, surging back up to $109K.
The cryptocurrency market has experienced a modest recovery in the past few days, with the global market capitalization rising to $3.56 trillion in the last 24 hours. The price of Bitcoin, the largest cryptocurrency by market cap, has recovered to $117,612, according to TradingView.
However, the market sentiment remains in the "Greed" zone, signaling potential volatility. This volatility was evident in the trades of prominent cryptocurrency trader, James Wynn. Wynn opened BTC short positions worth $1 billion but closed them after 15 hours with a loss of $15.87 million.
The sluggish growth of Ethereum, trading around $2,560, with only an 8% increase over the past 7 days, contrasts with the overall market recovery. On the other hand, XRP, trading at approximately $2.35, saw modest upward movement, supported by positive sentiment in the altcoin market.
The recovery reflects renewed investor confidence in the cryptocurrency market. However, concerns about potential manipulation have arisen due to the activities on Hyperliquid, a platform known for its low-fee structure and high-leverage options. The impact of whale moves on Hyperliquid has caused open interest to spike, with open interest for BTC contracts on Hyperliquid rising 20% in the last 24 hours, according to Dune Analytics.
The whale who earned a total of $25.2 million through crypto trading activities on Hyperliquid in the last 75 days is not explicitly named, but the prominent whales mentioned include the trader known by the wallet address “0xa523,” who suffered losses exceeding $40 million, and James Wynn, who lost $23.6 million. No whale with exactly $25.2 million profit is directly identified in the available data.
The activities on Hyperliquid have raised concerns about potential manipulation in the cryptocurrency market. In the past 24 hours, $200 million in liquidations occurred in the cryptocurrency market, with Bitcoin accounting for 20.5% of these liquidations, reflecting high leverage in the market.
A notable event was the closure of a $1.2 billion BTC long position by Wynn on Hyperliquid on May 25, 2025, resulting in a $13.4 million loss. The liquidation period also saw $90 million in short positions and $110 million in long positions being wiped out.
The price of Bitcoin had previously modestly recovered to $109,000 following President Trump's decision to delay EU tariffs. X users have noted the potential for a liquidation cascade due to whale moves on Hyperliquid. The ongoing volatility in the market serves as a reminder of the risks associated with high-leverage trading and the potential for manipulation in the cryptocurrency market.
