This week, a bitcoin whale has shut down more than half a billion dollars in small positions, betting on the fall of bitcoin price before the much awaited Federal Open Market Committee (FOMC) meeting this week.
A large crypto investor, or whale earned a profit of about $ 10 million after closing the 40x leverage for 6,210 bitcoins (BTCs) – more than $ 516 million – which serves as a real stake on the price fall of bitcoin.
Leverage positions use the money lent to increase the size of an investment, which can promote the size of both profit and disadvantages compared to regular investment positions, making leveraged trading risk.
Status of bitcoin whale closed shirt. Source: Hipurcan
The lover whale closed all its small positions within a few hours, causing a benefit of $ 9.46 million from the decline of bitcoin, Hipurcan Shows data.
Whale opened the initial $ 368 million position at $ 84,043 and if the price of bitcoin exceeded $ 85,592, was faced with liquidation.
Whale succeeded in turning on a profit, despite that to add 5 million dollars to his small, a publicly formed team of traders began to “hunt” the liquidation of their small status, which finally failed, LukanchainIn March 17X Post.
Bitcoin whale earned $ 9.4 million in profit. Source: Hipurcan
After closing his bitcoin shorts, Whale started depositing Ether (ETH) with his profits, acquired more than 3,200 ether for more than $ 6.1 million on UTC on March 18 at 7:31 pm, UTC, on March 18, UTC, Ethraksan Shows data.
To take advantage comes a day before the upcoming FOMC meeting on March 19, which will give more indications to the market participants on the monetary policy path of the Federal Reserve for 2025 and have the ability to affect the investor’s appetite for the risk property like bitcoin.
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Bitcoin can look upside down on reducing inflation worries: analyst
After the release of the US Consumer Price Index (CPI) in February, the concerns related to inflation have started decreasing, which revealed the increase of at least year-on-year-to-year growth compared to the expected 2.9%.
According to Xwin Research co-founder and CEO Fumihiro Arsava, reducing inflation related concerns can be a positive signal for the upcoming FOMC meeting.
Lower CPI reading can also be a positive sign for the trajectory of bitcoin, adding cointelegraph, adding:
“This suggests that inflation pressure is gradually relaxed, which can affect the decisions of the monetary policy of the Federal Reserve.”
“The short -term price action of bitcoin will depend on whether it can catch a $ 81,000 support level.
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Bitcoin target rate possibilities. Source: CME Group’s Fedwatch tool
According to the latest estimates of the fedwatch of the CME group, the market will currently keep the fed interest rates stable in 99% probability. tool,
Ryan Lee, the chief analyst of Bitgate Research, said, “The market expects a large extent to keep the rates stable, but can put any unexpected hawkish signal bitcoins and putting pressure on other risk assets.”
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