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Bitcoin whale bets $368M with 40x leverage on BTC decline ahead of FOMC

Coin Telegraph LogoCoin Telegraph10h ago

Bitcoin whale bets $368M with 40x leverage on BTC decline ahead of FOMC - Coin Telegraph

Quick Summary:

To avoid downside volatility ahead of the FOMC meeting, Bitcoin will need a weekly close above $81,000, according to Ryan Lee, chief analyst at Bitget Research,The analyst told Cointelegraph:“The key level to watch for the weekly close is $81,000 range, holding above that would signal resilience, but if we see a drop below $76,000, it could invite more short-term selling pressure.”Related: Bitcoin experiencing ‘shakeout,’ not end of 4-year cycle: AnalystsThe analyst’s comments come days ahead of the next FOMC meeting scheduled for March 19.

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.

A large crypto investor, or whale, has opened a 40x leveraged short position for over 4,442 Bitcoin (BTC) worth over $368 million, which functions as a de facto bet on Bitcoin’s price fall.

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Article Details

Author / Journalist: Cointelegraph by Zoltan Vardai

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-16 @ 13:38:29 (10 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 399 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27054028

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About Coin Telegraph

Coin Telegraph Logo

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 86 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #11

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