An entrepreneur established bullish bets on major cryptocurrencies on Monday as the crypto market refused, libidating leveraged positions worth $ 1.5 billion.
An address labeled “0x50de6EF4D11B263DC2E4547602E963355E17DC81” Deployed $ 15 million in USDC to Hyperliquidtaking positions across Bitcoin Solana Hyperliquid’s hype token, and pump, according to Blockchain Sleuth Lookonchain.
This massive bet has been highlighting how some market participants position themselves to achieve potential market rebounds, viewing the pullback as a major purchase opportunity rather than a sign of a long fall.
The cryptocurrency market has been subjected to the past 24 hours, with the fall of Bitcoin of more than 2% below $ 113,000, a step that has seen a market value decrease at $ 2.25 trillion, according to Data Source Tradingview.
The weakness follows the dollar’s stability following Wednesday Fed rates and strengthens post-fed bearishness in market options.
Market volatility is expected to increase in the coming days as some federal reserve policies, including chairman Jerome Powell, are set to speak. Adding to market uncertainty, all important expenditures on personal consumption (PCE) The inflation report is set to release this Friday, offering critical insights on inflation trends and informed of the potential transitions of future rates.
Consistent, the FTX Bankruptcy Recovery Trust has confirmed that the third cycle of payments, worth $ 1.6 billion, will be shared with four groups of creditors in Sept. 30.
These payments will be made through platforms such as BitGo, Payoneer, or Kraken, which provides expected relief to stakeholders affected by the collapse.
