A Bitcoin wheel is imposing hundreds of millions of dollars on a short -term decline in the price of Bitcoin before a significant week filled with key economic reports, which can significantly affect the hunger for its path and the risk of investors.
A large crypto investor, or whale, has opened a 40 X -bailed short position for more than 4,442 bit coin (BTC) – which is more than $ 368 million – which acts as a de facto condition on bitcoin price reduction.
Beneficial positions use a borrowing amount to increase the size of an investment, which can increase the size of both the benefits and disadvantages, which poses a beneficial trading risk compared to regular investment positions.
Bitcoin Whale opened a position of 838 million at $ 84,043 and if the price of bitcoin exceeded 85,592, he faces auspicious.
Source: Hypurrscan
Investor has benefited more than 2 million Million in unrealistic profits, however, he has lost more than 200,000, on his position funding fees, Hypurrscan Data shows.
Despite the high risk of beneficial trade, some crypto investors are making significant profits with this strategy. Earlier in March, a lover trader increased Million by 68 million to a 50x benefited, which is banking on an 11 % reduction of Ether (ETH).
The beneficiary prerequisite has come up a week before a week of several important macroeconomic release, including the Federal Open Market Committee (FOMC) meeting on March 19, which could affect the hunger of investors of danger assets like Bitcoin.
Related: BitCoin’s Next Catalist: US 36T US Loan Circle End suspension
Bitcoin needs more than 81,000 weekly, 000 81,000 to avoid pre-FFMC deficiency
Bitcoin prices are at risk of significant negative fluctuations due to rising economic uncertainty around global trade prices.
According to Ryan Lee, the chief analyst of Butt Gate Research, to avoid negative fluctuations before the FOMC meeting, BitCoin will need more than 81,000 weekly, 000 81,000.
Analyst told the Quintel Graph:
“The key level to see the weekly is, the limit of 000 81,000, which is above it, which will indicate flexibility, but if we see a decrease below 000 76,000, it can invite more short -term sales pressure.”
Related: Bitcoin is experimenting with ‘shake -out’, not the end of a 4 -year cycle: analyst
According to the latest estimate of the CME group’s Fed Watch, the analyst’s comments are a few days before the next FOMC meeting on March 19. Markets are currently pricing at 98 % that the feed will keep interest rates stable. Toll.
Source: Fed Watch of CME Group Toll
“The market expects the feed rate to be stable, but an unexpected hawking signal can put pressure on bitcoin and other risk assets,” the analyst added.
https://www.youtube.com/watch?v=6unogdvqwre
Magazine: SCB Indications $ 500K BTC, SEC delays ETHR ETF options, and more: Huller Digest, February 23. March 1. March 1.
