Fasanara-Linked Trader Profits $159M on Bitcoin Short

A prominent trader on the Hyperliquid decentralized exchange, known as BobbyBigSize and linked to London-based asset manager Fasanara Capital, has amassed significant profits from a large short position in Bitcoin as the cryptocurrency's price fell to around 77,500 dollars late last week.

The trader, operating under the address 0x7fdac517d1, initiated a short position valued at approximately 38 million dollars in Bitcoin and several altcoins, according to on-chain data trackers. This bet against Bitcoin's price has contributed to overall gains of 159 million dollars over the past seven months, though the account recorded a 561,000-dollar loss in the last 30 days. BobbyBigSize also holds a 21 million-dollar leveraged long position in Ether, signaling short-term optimism for that asset amid broader bearishness toward Bitcoin and other altcoins. The trader employs algorithmic strategies, with a success rate of 63 percent across more than 11 billion dollars in total trades on the platform, where 19.4 million dollars in assets remain deposited.

Bitcoin traded below 78,000 dollars on Friday after failing to sustain gains above that level, despite a 29 percent rise from its yearly low...