Blockchain data shows a trader quietly building a $255 million long position split between Bitcoin and Ethereum, just days before President Donald Trump and President Xi Jinping are set to meet during the APEC summit on October 31.

The timing couldn’t be more symbolic. Only a week ago, Trump’s announcement of a 100% tariff on Chinese imports sent shockwaves through global markets, triggering a sell-off that hit crypto as well. But his tone has since softened – calling Xi “highly respected” and suggesting the standoff is “just a bad moment.” Investors now sense a possible thaw, and this whale seems to be positioning for it.

Beijing’s recent reshuffle at the World Trade Organization has only fueled that speculation. The sudden dismissal of Li Chenggang, a diplomat who clashed frequently with U.S. Treasury Secretary Scott Bessent, is being read by analysts as a strategic olive branch ahead of the summit.

Traders didn’t wait long to respond. Bitcoin jumped 3% within hours of Trump confirming the meeting, while Ethereum climbed to around $4,040. The total crypto market added roughly $100 billion in value before the rally cooled.

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Still, the whale’s activity hints at a layered strategy rather than blind optimism. Despite the large long bet, blockchain trackers noted an additional $76 million Bitcoin short opened with heavy leverage – possibly a hedge against renewed volatility. The same trader reportedly executed a series of precise short plays worth $735 million last month, earning the nickname “Trump Insider Whale” among market watchers.

Whether this new position is a signal of inside confidence or calculated speculation remains unclear. But one thing is certain – markets are bracing for the APEC summit, where trade diplomacy might once again dictate the next big crypto move.

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