The market is observing a mysterious whale holding a massive $400 million short position on Bitcoin.
Initiation and Expansion of Shorts
The investor, known as 'whale', attracted attention after opening a $332 million short position at an entry price of $84,040, which then increased to $400 million.
Dramatic Moves and Current Status
The whale increased his position to nearly 5,608 BTC, equivalent to $464 million, with a liquidation price of $85,842. He also shorted $40 million in ETH.
The whale is using all available margin to short Bitcoin again.Pete Rizzo
Market Reaction and Expectations
The market holds its breath as Bitcoin prices waver below the SMA 200 resistance at $84,100. All eyes are on the Fed meeting where interest rates are expected to remain unchanged.
The whale's actions leave the market with many questions, while traders look ahead to the Fed's interest rate decision.
