Wealthy trader places nine-figure bet hours before Fed minutes

A ample crypto trader has opened hundreds of millions of dollars successful abbreviated positions crossed Bitcoin, Ether and Solana conscionable hours earlier the merchandise of intimately watched Federal Reserve gathering minutes.

The timing has drawn attraction arsenic markets brace for imaginable volatility tied to U.S. monetary argumentation signals.

Related: Abundant Mining CEO says Bitcoin terms volatility hasn’t slowed mining demand

On Dec. 29, blockchain traders flagged a ample leveraged stake against the crypto marketplace conscionable hours earlier the Federal Reserve is acceptable to merchandise its latest FOMC gathering minutes.

According to information shared by Ted Pillows, a azygous high-net-worth trader opened abbreviated positions totaling much than $269 cardinal crossed Bitcoin, Ether and Solana.

“A whale has been going abbreviated now.
He has opened:

$119,296,000 $BTC short
$106,743,000 $ETH short
$43,102,000 $SOL short”

The combined vulnerability exceeds $260 million, suggesting the trader is positioning for a crisp determination alternatively than regular hedging.

The trader’s positions were disposable connected Hyperdash, a level that tracks on-chain and exchange-linked derivatives activity, showing a afloat short-biased portfolio with nary agelong exposure.

The largest presumption was a Bitcoin abbreviated worthy astir $119 million, opened astir the $87,500 level. At the clip of the snapshot, Bitcoin was trading somewhat higher, putting the presumption temporarily underwater.

The trader besides opened a $106 cardinal abbreviated connected Ether, entered adjacent $2,920, and a $43 cardinal abbreviated connected Solana, entered astir $123. All 3 positions utilized leverage, magnifying some imaginable gains and losses.

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Hyperdash information showed the relationship was utilizing much than 80% of its disposable margin, signaling an aggressive, high-conviction commercialized alternatively than a hedge.

Such large, directional bets from alleged “whales” often gully attraction due to the fact that they tin bespeak expectations astir large macro events, successful this case, the merchandise of Federal Reserve argumentation minutes that traders judge could displacement marketplace sentiment.

The Federal Reserve is acceptable to merchandise minutes from its latest Federal Open Market Committee gathering at 2:00 p.m. ET connected Dec. 30, a cardinal macro lawsuit for hazard assets.

While the Fed does not acceptable crypto policy, its interest-rate outlook has go 1 of the astir important drivers of integer plus prices.