Trader 58bro.eth Bets Bitcoin Stays Between $70,000 and $95,000 in September While Expanding Shorts
Cross-market trader 58bro.eth has built a new September range trade on Polymarket, buying contracts that pay out if Bitcoin does not fall to $70,000 and does not reach $95,000 or $100,000 during the month. According to TradingBeats monitoring cited by BlockBeats, the position suggests an expectation that BTC will remain inside a relatively tight band for the rest of September.
From Sept. 19 to Sept. 20, the trader bought about 10,000 shares of "BTC to $70,000 in September" No for roughly $9,604, around 8,578 shares of "BTC to $95,000 in September" No for about $8,180, and 50,000 shares of "BTC to $100,000 in September" No for about $49,300. At press time, the implied probabilities for those three "No" outcomes stood at about 95.3%, 95.7%, and 98.85%.
The setup follows similar monthly range trades in July and August. At the same time, 58bro.eth has continued to add to a BTC short on Hyperliquid. Over the past three days, the BTC short increased from 88.75 BTC to 105.25 BTC, while combined BTC and ETH shorts were worth about $26.137 million and showed a floating loss of about $1.132 million. Data cited in the report said the trader has generated $33.7 million in cumulative profit on Hyperliquid, with a 90% historical win rate and an average holding period of about 23 days.