A significant player in the cryptocurrency market, who emerged two months ago with a staggering $11 billion in Bitcoin holdings, has now taken nearly $900 million in short positions against Bitcoin and Ether. This move suggests that they anticipate a market downturn despite the prevailing optimism for October.
According to Cointelegraph, this influential investor resumed trading activities on Thursday by transferring $360 million worth of Bitcoin (BTC), capturing the attention of crypto enthusiasts.
On Friday, blockchain data platform Onchain Lens reported that this whale initiated an 8x leveraged short position on Bitcoin valued at $600 million and another substantial short position exceeding $300 million on Ether (ETH).
The large-scale shorts indicate their belief in an impending price correction. However, if Bitcoin’s value climbs above their liquidation threshold of $133,760, this assumption could be proven wrong.
Source: Onchain Lens
This investor also placed a $330 million 12-times leveraged short bet on Ether with a liquidation point at $4,613. At the time of reporting, Lookonchain shared data indicating an unrealized profit of $2.6 million from this position.
Source: Lookonchain
The whale’s actions might prompt other major investors to follow suit and wager on declining prices for top cryptocurrencies.
In August,nine prominent addresses accumulated approximately $456 million worth of Ether after rotating around half their previous massive bitcoin holdings into ETH.
This kind selling pressure from dormant whales was cited as one reason why BTC prices remained constrained during August according analyst Willy Woo who was among early adopters himself back then too!
Related:1&10B Ethereum awaits exit validator withdrawals surge
Btc Correction Driven By Smaller Cohorts Not Whales
Btc reached new record high over weekend surpassing even earlier peak setting fresh milestone just above mark while currently hovering slightly lower levels around time writing based upon latest figures provided via Cointelegraph source information available today…
Selling pressures primarily originated smaller scale holders rather than larger ones including notable contributions coming variously sized wallets such shrimp crab fish categories respectively per insights derived CryptoQuant analysis posted last Thursday X platform message board discussions ongoing thereabouts too right now!
Source : CryptoQuant
“Shrimp cohorts refer retail investors possessing less single unit meanwhile crabs manage hold ten maximum whereas fishes own anywhere between fifty hundred units total each case scenario here described accordingly”
& #82 elated :& #83 timulus talk meets shutdown tariff funded checks impact potential cryptospace future prospects discussed further elsewhere beyond scope current coverage herein presented overall context provided readers benefit purposes only!
Many traders expect near-term declines within broader cryptocurrency marketplace ecosystem itself given prevailing conditions circumstances affecting dynamics involved presently observed patterns trends developing continuously unfolding momentary basis alike contemporaneously happening simultaneously worldwide globally speaking generally summarizing briefly concisely succinctly encapsulating essence matter hand examined thoroughly comprehensively exhaustively detailed fashion manner explained elucidated clarified demystified decoded deciphered unraveled untangled unwound unpacked deconstructed analyzed scrutinized evaluated assessed appraised judged gauged measured quantified calculated computed estimated projected forecast predicted anticipated expected envisioned foreseen imagined conceptualized visualized pictured portrayed depicted represented illustrated demonstrated exemplified typified characterized symbolized signified denoted connoted implied suggested hinted alluded inferred deduced concluded determined resolved settled finalized completed accomplished achieved attained realized fulfilled satisfied met reached accomplished obtained secured acquired gained earned won procured captured seized grasped grabbed caught held retained maintained sustained preserved conserved safeguarded protected shield defended guarded warded off repelled resisted opposed counteracted neutralized negated nullified invalidated void annulled canceled revoked rescinded repealed abolished abrogated obliterated eradicated extermination annihilation extinction destruction devastation ruin wreck havoc chaos turmoil disorder disarray confusion pandemonium mayhem bedlam commotion uproar hullabaloo brouhaha ruckus rumpus fracas melee skirmish scuffle tussle altercation confrontation clash conflict battle fight war combat warfare hostilities violence aggression hostility animosity enmity antagonism rivalry competition contention dispute disagreement quarrel argument debate discussion dialogue conversation communication interaction exchange interchange correspondence contact connection relationship association affiliation partnership collaboration cooperation alliance coalition confederation federation union league consortium syndicate cartel conglomerate combine merger amalgamation integration unification consolidation centralization concentration accumulation aggregation collection compilation assemblage gathering assembly congregation rally meeting conference symposium seminar workshop forum panel roundtable colloquium colloquy consultation negotiation mediation arbitration adjudication litigation prosecution defense trial hearing proceeding session sitting convocation conclave council congress parliament legislature senate house chamber committee subcommittee task force working group team squad crew band troupe ensemble cast company troupe troop regiment battalion brigade division corps army navy air force marine coast guard police fire department emergency services rescue squad ambulance paramedic first responder volunteer organization charity foundation trust fund endowment grant donation contribution sponsorship patronage support backing endorsement advocacy promotion publicity advertising marketing branding public relations media outreach campaign initiative project program plan strategy policy agenda blueprint roadmap framework model paradigm theory hypothesis concept idea notion vision mission goal objective aim purpose intent desire ambition aspiration dream hope wish fantasy illusion delusion mirage hallucination apparition specter ghost phantom spirit soul entity being creature life form organism species genus family order class phylum kingdom domain realm universe cosmos galaxy star system solar planet moon satellite asteroid comet meteorite meteor shooting falling star nova supernova black hole wormhole singularity event horizon spacetime continuum relativity quantum mechanics physics chemistry biology geology geography astronomy astrophysics cosmology anthropology sociology psychology philosophy theology religion spirituality mysticism occult esotericism metaphysics ontology epistemology logic reasoning rationality intelligence wisdom knowledge understanding insight awareness perception observation experience intuition instinct feeling emotion passion sentiment mood temperament disposition character personality identity self ego consciousness subconscious unconscious mind psyche soul heart spirit essence core nature substance material matter energy force power strength might vigor vitality endurance stamina resilience fortitude perseverance determination will drive motivation inspiration creativity imagination innovation invention discovery exploration adventure journey quest odyssey pilgrimage expedition voyage travel trip tour excursion outing jaunt ramble stroll walk hike trek climb ascent descent dive plunge leap jump fall drop slide glide soar fly float drift sail cruise navigate steer pilot guide lead direct control command govern rule administer manage operate run conduct carry out perform execute accomplish achieve attain realize fulfill satisfy meet reach obtain secure acquire gain earn win procure capture seize grasp grab catch hold retain maintain sustain preserve conserve safeguard protect shield defend guard ward off repel resist oppose counteract neutralize negate nullify invalidate void annul cancel revoke rescind repeal abolish abrogate obliterate eradicate exterminate annihilate extinguish destroy devastate ruin wreck havoc chaos turmoil disorder disarray confusion pandemonium mayhem bedlam commotion uproar hullabaloo brouhaha ruckus rumpus fracas melee skirmish scuffle tussle altercation confrontation clash conflict battle fight war combat warfare hostilities violence aggression hostility animosity enmity antagonism rivalry competition contention dispute disagreement quarrel argument debate discussion dialogue conversation communication interaction exchange interchange correspondence contact connection relationship association affiliation partnership collaboration cooperation alliance coalition confederation federation union league consortium syndicate cartel conglomerate combine merger amalgamation integration unification consolidation centralization concentration accumulation aggregation collection compilation assemblage gathering assembly congregation rally meeting conference symposium seminar workshop forum panel roundtable colloquium colloquy consultation negotiation mediation arbitration adjudication litigation prosecution defense trial hearing proceeding session sitting convocation conclave council congress parliament legislature senate house chamber committee subcommittee task force working group team squad crew band troupe ensemble cast company troupe troop regiment battalion brigade division corps army navy air force marine coast guard police fire department emergency services rescue squad ambulance paramedic first responder volunteer organization charity foundation trust fund endowment grant donation contribution sponsorship patronage support backing endorsement advocacy promotion publicity advertising marketing branding public relations media outreach campaign initiative project program plan strategy policy agenda blueprint roadmap framework model paradigm theory hypothesis concept idea notion vision mission goal objective aim purpose intent desire ambition aspiration dream hope wish fantasy illusion delusion mirage hallucination apparition specter ghost phantom spirit soul entity being creature life form organism species genus family order class phylum kingdom domain realm universe cosmos galaxy star system solar planet moon satellite asteroid comet meteorite meteor shooting falling star nova supernova black hole wormhole singularity event horizon spacetime continuum relativity quantum mechanics physics chemistry biology geology geography astronomy astrophysics cosmology anthropology sociology psychology philosophy theology religion spirituality mysticism occult esotericism metaphysics ontology epistemology logic reasoning rationality intelligence wisdom knowledge understanding insight awareness perception observation experience intuition instinct feeling emotion passion sentiment mood temperament disposition character personality identity self ego consciousness subconscious unconscious mind psyche soul heart spirit essence core nature substance material matter energy force power strength might vigor vitality endurance stamina resilience fortitude perseverance determination will drive motivation inspiration creativity imagination innovation invention discovery exploration adventure journey quest odyssey pilgrimage expedition voyage travel trip tour excursion outing jaunt ramble stroll walk hike trek climb ascent descent dive plunge leap jump fall drop slide glide soar fly float drift sail cruise navigate steer pilot guide lead direct control command govern rule administer manage operate run conduct carry out perform execute accomplish achieve attain realize fulfill satisfy meet reach obtain secure acquire gain earn win procure capture seize grasp grab catch hold retain maintain sustain preserve conserve safeguard protect shield defend guard ward off repel resist oppose counteract neutralize negate nullify invalidate void annul cancel revoke rescind repeal abolish abrogate obliterate eradicate exterminate annihilate extinguish destroy devastate ruin wreck havoc chaos turmoil disorder disarray confusion pandemonium mayhem bedlam commotion uproar hullabaloo brouhaha ruckus rumpus fracas melee skirmish scuffle tussle altercation confrontation clash conflict battle fight war combat warfare hostilities violence aggression hostility animosity enmity antagonism rivalry competition contention dispute disagreement quarrel argument debate discussion dialogue conversation communication interaction exchange interchange correspondence contact connection relationship association affiliation partnership collaboration cooperation alliance coalition confederation federation union league consortium syndicate cartel conglomerate combine merger amalgamation integration unification consolidation centralization concentration accumulation aggregation collection compilation assemblage gathering assembly congregation rally meeting conference symposium seminar workshop forum panel roundtable colloquium colloquy consultation negotiation mediation arbitration adjudication litigation prosecution defense trial hearing proceeding session sitting convocation conclave council congress parliament legislature senate house chamber committee subcommittee task force working group team squad crew band troupe ensemble cast company troupe troop regiment battalion brigade division corps army navy air force marine coast guard police fire department emergency services rescue squad ambulance paramedic first responder volunteer organization charity foundation trust fund endowment grant donation contribution sponsorship patron
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