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Bitcoin Whale Bets $ 368m with 40x Leverage at BTC Decline leading to FOMC


A Bitcoin whale is a bet of hundreds of millions in the short-term denial of Bitcoin, leading a week full of key economic reports that can significantly affect the trajectory price of bitcoin and risk appetite for investors.

A large crypto investor, or whale, opened a 40x leveraged short position for more than 4,442 bitcoin (Btc) costs more than $ 368 million, which acts as a de facto bet on the downfall of bitcoin price.

Leveraged positions are used The borrowed money to increase the size of an investment, which can boost the size of both gains and losses, which makes it a risk of leveraged trading compared to regular investment positions.

The Bitcoin Whale opened a $ 368 million position at $ 84,043 and faced extermination if the price of Bitcoin was over $ 85,592.

Source: Hypurrscan

The investor has generated more than $ 2 million in the unlucky income, however, he has more than $ 200,000 loss in funding fees his position, Hypurrscan Data displays.

Despite the increased risk of leveraged trading, some crypto investors are making significant income in this approach. Earlier in March, a Savvy businessman got $ 68 million in a 50x leveraged short positionBanking on ether (Eth) 11% decline in price.

The leveraged bet leads to a week of many significant macroeconomic releases, including the upcoming meeting of the Federal Open Market Committee (FOMC) on March 19, which could affect the investor’s appetite for the Risk assets such as Bitcoin.

Related: Next Bitcoin catalyst: Ending $ 36T US Debt Ceiling Suspension

Bitcoin Weekly Needs Near $ 81k to avoid pre-FOMC Downside: Analysts

The price of Bitcoin continues to risk significant volatility of volatility due to the growing macroeconomic uncertainty around the world’s trade tariffs.

To avoid the downside volatility leading the FOMC meeting, Bitcoin will need a weekly close to $ 81,000, according to Ryan Lee, Chief Analyst in Bitget Research,

Analyst told Cointelegraph:

“The main level to watch for the weekly close is $ 81,000 range, holding the upper signal of being stable, but if we see a fall below $ 76,000, it can invite more short-term sale pressure.”

Related: Bitcoin is experiencing ‘shakeout,’ not the end of the 4 -year cycle: Analysts

Analyst comments will come days before the next FOMC meeting scheduled for March 19. The markets are currently pricing at a 98% chance that the Fed will maintain interest rates, according to the latest estimates of CME Group’s Fedwatch Tool.

Source: CME Group’s Fedwatch Tool

“The market hopes that the Fed will hold rates firmly, but any unexpected Hawkish signals can put pressure on Bitcoin and other risk ownership,” the analyst added.

https://www.youtube.com/watch?v=6ulabdvqwre

Magazine: SCB Tips $ 500K BTC, SEC Densterns Ether ETF Options, and More: Hodler’s Digest, Feb. 23 – Mar. 1