YEREVAN (CoinChapter.com) —Mechanism Capital founder Andrew Kang has opened another $100 million leveraged long position on Bitcoin, doubling his previous bet.
According to Arkham, an address linked to Kang now holds $200 million in Bitcoin long trades. The second trade came on April 12 and carries an estimated profit or loss of $6.8 million.
Arkham shared the update in an X post, confirming that the same wallet had already placed a $100 million Bitcoin long on April 9. Both positions came after political signals that affected crypto markets.
Bitcoin Long Linked to Trump’s Market Signal
Kang referenced Trump’s tariff decision and social media post in a statement on April 12. He called it a sign of market support and said it aligned with Bitcoin’s potential reversal after a months-long downtrend.
“Trade war capitulation and Trump put are the perfect combination for BTC to reverse a multi month downtrend,” Kang wrote in his X post. The phrase “Trump put” describes the idea that Trump may try to support market performance through public announcements or policy moves.
These comments followed Bitcoin’s strong reaction to the political developments. The 90-day tariff pause briefly pushed Bitcoin above $85,000. The rally reached a local peak of $85,315 but did not hold.
According to the 4-hour BTC/USD chart on TradingView, the price broke above the 50-period EMA (currently at $82,514) during the rebound. However, the breakout showed weakening momentum near resistance levels. The price then pulled back below $84,500 on April 14. Volume decreased slightly during the rejection, indicating reduced buyer conviction after the initial rally.
The political response continued on April 11. Senate Democrats sent a letter to the Securities and Exchange Commission. They asked the agency to open an investigation into Trump and his affiliates for potential insider trading and market manipulation.
The letter claimed Trump’s Truth Social post may have “previewed his plans” to pause the new tariffs. Lawmakers argued that this could have impacted trading behavior, especially if connected to market positions placed around the same time.
The tariff hikes, announced on April 2, had already triggered a market sell-off before the April 9 pause.
On April 13, Trump posted again on Truth Social. He stated that products, including Chinese electronics, were simply reassigned to a different tariff “bucket” under the existing 20% fentanyl tariff structure.
In his post, Trump emphasized that the tariffs remain in place and accused media outlets of spreading misinformation by failing to report the full context. He said the administration is reviewing the entire electronics supply chain, including semiconductors, as part of the upcoming National Security Tariff Investigations.
He also stressed that the U.S. must produce goods domestically to avoid being, in his words, “held hostage” by countries like China. Trump argued that past trade practices had harmed the U.S. economy and said the new approach would prioritize national production and jobs. He called recent developments part of what he referred to as a “Golden Age” of America, citing tax and regulation cuts backed by the House and Senate.