A bitcoin whale has closed more than a billion in the short term, and the price of bitcoin fell ahead of the long-awaited Federal Open Market Committee (FOMC) meeting this week.
A large crypto investor or whale makes nearly $10 million in profit after it’s over 40 times leverage short position For 6,210 bitcoins (BTC) – Valued over $516 million – is actually a bet when the price of Bitcoin falls.
Leverage position use Borrowing money to increase the size of the investment can increase the size of the profit and loss, thus comparing the risk of leveraged trading compared to conventional investment positions.
Bitcoin whale close shirt position. source: hyburrscan
The savvy whale closed all his short positions within a few hours, earning $9.46 million from the decline in Bitcoin, hyburrscan Data display.
The whale opened its initial $368 million position for $84,043, and faces liquidation if the price of Bitcoin exceeds $85,592.
It is noted that despite the publicly established businessman starting to “hun” the liquidation of his short-term position, the whale managed to cash in on its profits. Lookonchainin the March 17 X post.
Bitcoin Whale made $9.4 million in profits. source: hyburrscan
After closing his bitcoin shorts, the whale begins to accumulate ether (eth) Profit, at 7:31 am on March 18, it acquired more than 3,200 ether coins for more than $6.1 million etherscan Data display.
Profit profits are a day ahead of the upcoming FOMC meeting on March 19, which will provide market participants with more clues about the Fed’s monetary policy path in 2025 and potentially impact investor interest. Risk assets like Bitcoin.
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Inflation-related issues began to ease after the release of the U.S. Consumer Price Index (CPI) in February, which showed an expected year-on-year increase of 2.8%.
Fumihiro Arasawa, co-founder and CEO of Xwin Research, said the lower issue related to inflation could be a positive signal of the upcoming FOMC meeting.
The CEO told Cointelegraph that lower CPI readings could also be a positive signal to the Bitcoin trajectory.
“This shows that inflationary pressures are gradually easing, which may affect the Federal Reserve’s monetary policy decisions.”
Arasawa added: “Bitcoin’s short-term price action will depend on whether it can maintain a support level of $81,000.
Related: The biggest risk to the crypto market in 2025: US recession, circular crypto economy
Bitcoin target interest rate probability. Source: CME Group’s FedWatch tool
According to the latest estimates from CME Group’s FedWatch, the current market price is 99% chance to keep the Fed rate stable. tool.
“The market mainly wants the Fed to remain stable, but any unexpected hawkish signal could put pressure on Bitcoin and other risky assets,” Ryan Lee, chief analyst at Bitget Research, told Cointelegraph.
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