Whale closes $516M 40x Bitcoin short, pockets $9.4M profit in 8 days
A Bitcoin whale made nearly $10 million in profit after closing a highly leveraged short position worth $516 million, betting on Bitcoin’s price drop ahead of the Federal Open Market Committee (FOMC) meeting.
Whale’s high-risk trade
The investor opened a $368 million short position at $84,043, risking liquidation if Bitcoin surpassed $85,592. Despite facing challenges from traders attempting to force liquidation, the whale successfully closed the position within hours, securing a $9.46 million profit, according to Hypurrscan data.
Shifting to Ether
After exiting Bitcoin shorts, the whale used profits to accumulate over 3,200 ETH worth $6.1 million, Etherscan data shows. This move came just a day before the FOMC meeting, which could impact risk assets like Bitcoin.
Inflation impact on Bitcoin
February’s lower-than-expected U.S. Consumer Price Index (CPI) report suggests easing inflation, potentially influencing Federal Reserve policies. xWIN Research CEO Fumihiro Arasawa believes Bitcoin’s trajectory depends on maintaining the $81,000 support level.
Markets predict a 99% chance that the Fed will keep interest rates steady. However, Bitget Research analyst Ryan Lee warns that unexpected hawkish signals could pressure Bitcoin and other risk assets.
