tl;dr
According to CoinGlass, a Bitcoin whale has increased their short position to $515 million on the Hyperliquid platform, marking the largest Bitcoin short ever. After facing a multi-million loss, the trader has made a stunning comeback with an unrealized profit of $6.43 million. Cryptocurrency market...
According to CoinGlass, a Bitcoin whale has increased their short position to $515 million on the Hyperliquid platform, marking the largest Bitcoin short ever. After facing a multi-million loss, the trader has made a stunning comeback with an unrealized profit of $6.43 million.
Cryptocurrency market participants are attempting to hunt down the whale and liquidate the position, with the liquidation price at $85,557. Overall, $184 million worth of crypto has been liquidated in the past 24 hours, with short positions comprising the majority at $94.19 million.
The Bitcoin price has dipped below $83,000, down nearly 1% over the past 24 hours, and is expected to experience more volatility following the U.S. Federal Reserve's rate decision on March 19.
According to data provided by cryptocurrency analytics platform CoinGlass, a massive Bitcoin whale has increased his short position to an eye-popping $515 million on the Hyperliquid platform.
After facing a multi-million loss on Monday, the trader has made a stunning comeback. His current unrealized profit stands at $6.43 million.
Cryptocurrency market participants are now trying to hunt down the Hyperliquid whale and liquidate his position. The liquidation price currently stands at $85,557.
Meanwhile, the Bitcoin price has just dipped below the $83,000 level. The cryptocurrency is down by nearly 1% over the past 24 hours.
Overall, $184 million worth of crypto has been liquidated over the past 24 hours, with short positions making up the majority of this sum ($94.19 million).
Bitcoin is widely expected to experience more volatility on Wednesday when the U.S. Federal Reserve is expected to unveil its rate decision on March 19. The Fed is widely expected to keep the benchmark rate unchanged.