A crypto trader using the address ending in 8888 reportedly earned over $8 million overnight by employing a strategic hedging approach during a Bitcoin downturn. The trader maintained a $6.4 million long position in Bitcoin, achieving a 162% profit and loss (PnL) as a defensive measure. Simultaneously, the trader capitalized on short positions in weaker assets, securing $3.8 million from Ethereum shorts with a 1730% return on investment (ROI), $2.5 million from ENA shorts with a 2929% ROI, and $840,000 from Litecoin shorts. This approach highlights a sophisticated "long Bitcoin/short altcoins" hedging strategy, distinguishing it from mere speculation. While many investors panicked, this trader leveraged market conditions to maximize gains. HyperTrend, a monitoring service, tracks top-performing addresses like this one, offering insights into the strategies of the most profitable crypto traders.