#Market_Update Bitcoin whale bets $368M with 40x leverage on BTC decline ahead of FOMC.
A Bitcoin whale is wagering hundreds of millions on Bitcoin’s short-term decline, ahead of a week filled with key economic reports that may significantly impact Bitcoin’s price trajectory and risk appetite among investors.
A large crypto investor, or whale, has opened a 40x leveraged short position for over 4,442
$BTC $84,043.2 worth over $368 million, which functions as a de facto bet on Bitcoin’s price fall. The investor has generated over $2 million in unrealized profit, however, he has an over $200,000 loss on his position’s funding fees,
The leveraged bet comes ahead of a week of numerous significant macroeconomic releases, including the upcoming Federal Open Market Committee (FOMC) meeting on March 19, which may impact investor appetite for risk assets such as Bitcoin.
‼️‼️ Bitcoin needs weekly close above $81k to avoid pre-FOMC downside ‼️‼️
#Write2Earn #Whale.Alert #FollowTheLeaders #FOMC $ETH $XRP @KINGS MEN