Grumpy Chinese Guy

Trump’s Tariff Leak and the Bitcoin Crash

Report on Suspicious Short Positions Before Announcement

Neil Zhu's avatar
Neil Zhu
Oct 13, 2025
∙ Paid

I. Summary

Thirty minutes before Trump announced 100% tariffs on Chinese imports, several large short positions appeared on HyperLiquid.
Bitcoin dropped over 15% after the announcement.
Those early shorts were closed for millions in profit.
Meanwhile, billions in leveraged long positions were liquidated.


II. Timeline and Data

  • Time: Shorts opened roughly 30 minutes before Trump’s post.

  • Platform: HyperLiquid, a decentralized derivatives exchange.

  • Volume: Total short positions exceeded $1 billion.

  • Aftermath: Over $1.9 billion in long positions liquidated within hours.

  • Market impact: Bitcoin fell from around $122,000 to near $105,000.

This pattern shows precise timing that matches a major political event.

Grumpy Chinese Guy is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.


III. Identified Short Sellers

User's avatar

Continue reading this post for free, courtesy of Neil Zhu.

Or purchase a paid subscription.
© 2026 Grumpy Chinese Guy · Privacy ∙ Terms ∙ Collection notice
Start your SubstackGet the app
Substack is the home for great culture