In a delightful twist of fate, a Bitcoin whale, that grand maestro of the crypto ocean, has elegantly closed a staggering half a billion dollars in short positions, all while betting on the inevitable decline of Bitcoin’s price. Ah, the sweet anticipation of the Federal Open Market Committee (FOMC) meeting this week! 🎩
This audacious investor, a veritable leviathan in the crypto sea, has pocketed nearly $10 million in profit after gracefully closing a 40x leverage short position for 6,210 Bitcoin (BTC) — a sum that dances around the $516 million mark. A veritable wager on Bitcoin’s descent, if you will! 🤑
Now, let us ponder the nature of leveraged positions, those tantalizing temptresses that use borrowed money to amplify the size of an investment. They can inflate both gains and losses, making leveraged trading a thrilling yet perilous affair, akin to walking a tightrope over a pit of hungry alligators. 🐊
Our astute whale, with the swiftness of a gazelle, closed all his short positions within mere hours, reaping a delightful $9.46 million profit from Bitcoin’s decline, as revealed by the ever-watchful Hypurrscan data. 🦓
He initially opened a $368 million position at $84,043, teetering on the brink of liquidation should Bitcoin’s price dare to surpass $85,592. Yet, like a seasoned gambler, he managed to turn a profit, even after adding $5 million to his short, as a band of traders attempted to “hunt” his liquidation. Spoiler alert: they failed! 🎯
Post his Bitcoin escapade, our whale, now flush with profits, began to accumulate Ether (ETH), snatching up over 3,200 Ether for a princely sum of over $6.1 million at the ungodly hour of 7:31 am UTC on March 18, as per Etherscan data. 🦄
This profit-taking spree comes just a day before the much-anticipated FOMC meeting on March 19, which promises to unveil more clues about the Federal Reserve’s monetary policy path for 2025. A potential game-changer for risk assets like Bitcoin, indeed! 🎲
Bitcoin may see upside on easing inflation concerns: Analyst
As the clouds of inflation-related concerns begin to dissipate, following the release of February’s US Consumer Price Index (CPI), which revealed a lower-than-expected 2.8% year-on-year increase (the market had anticipated a 2.9% rise), one can’t help but feel a twinge of optimism. 🌤️
Fumihiro Arasawa, co-founder and CEO of xWIN Research, suggests that this easing of inflationary pressures could be a positive omen for the upcoming FOMC meeting. “This suggests that inflationary pressures are gradually easing, which could influence the Federal Reserve’s monetary policy decisions,” he muses. 🧐
“Bitcoin’s short-term price action will depend on whether it can hold the $81,000 support level. A sustained hold could stabilize sentiment, while a breakdown may trigger further corrections,” added Arasawa, with a knowing wink. 😉
Markets are currently pricing in a 99% chance that the Fed will keep interest rates steady, according to the latest estimates of the CME Group’s FedWatch tool. A veritable crystal ball of financial foresight! 🔮
“The market largely expects the Fed to hold rates steady, but any unexpected hawkish signals could put pressure on Bitcoin and other risk assets,” warns Ryan Lee, chief analyst at Bitget Research, as he peers into the murky waters of market predictions. 🦈
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2025-03-18 13:46