Bitcoin whale is betting on hundreds of millions of Bitcoin decrease in the short term, a week ago, full of major economic reports that may significantly affect the path of bitcoin and risk appetite among investors.
A large encryption investor, or the whale opened a short location of 40x to take advantage of more than 4442 Bitcoin (BTC) with a value of more than $ 368 million, which works actually a decrease in bitcoin price.
The parking lots use the borrowed funds to increase the volume of investment, which can enhance the size of gains and losses, which makes trading learned more dangerous compared to regular investment functions.
Bitcoin whale opened the center 368 million dollars at 84,043 dollars and faces the liquidation if the Bitcoin price exceeds 85,592 dollars.
source: Hypurrscan
The investor has made more than two million dollars of unreasonable profits, however, a loss exceeding $ 200,000 on his position of financing, Hypurrscan Data appears.
Despite the increasing risks of trading learned, some encryption investors make great profits with this strategy. Earlier in March, a smart merchant gained $ 68 million on a 50x short position, a decrease in ETHER (ETH) by 11 %.
The bet used a week before many important total economic publications, including the meeting of the upcoming Federal Open Market Committee (FOMC) on March 19, which may affect the investor's appetite for risk assets such as bitcoin.
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Bitcoin needs a weekly closure above 81 thousand dollars to avoid the negative side before FOMC: analysts
Bitcoin price continues to risk with great fluctuation in the negative side due to an increase in total economic uncertainty about the world trade tariff.
To avoid negative fluctuations before the FOMC meeting, Bitcoin will need a weekly closure above $ 81,000, according to Ryan Lee, chief analyst at Bitget Research,
Tell the Cointelegraph analyst:
“The main level of weekly closure monitoring is $ 81,000, and the above will indicate flexibility, but if we see a decrease less than 76,000 dollars, it may call more short -term sale pressure.”
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The analyst's comments come days before the FOMC meeting scheduled to be held on March 19. The market is currently 98 % tool.
Source: Fedwatch's Group CME tool
The analyst added: “The market expects to a large extent that the Federal Reserve will maintain steady rates, but any unexpected loud signals can put pressure on Bitcoin and other risk assets.”
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