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In the <a href="https://xpertsstudio.com/sec-makes-critical-decision-that-will-shake-the-cryptocurrency-market-five-year-exemption-granted-here-are-the-details/” title=”SEC Makes Critical Decision That Will Shake the Cryptocurrency Market: “Five-Year Exemption Granted!” Here Are the Details”>cryptocurrency market, the actions of major players have been making headlines lately, as much as price movements.
Bitcoin continues to hold above $76,000 despite the negative outcome of the Clarity Act vote and the Fed’s interest rate hike decision. While $BTC is holding around $76,000, Ethereum moved in the $2,370-$2,430 range, and the initial reaction in major altcoins like XRP and Solana was limited.
While the fact that the Fed’s decision was largely priced in beforehand eased short-term pressure and volatility in altcoins reshaped investors’ risk appetite, transfers made by whale wallets are attracting attention.
According to Lookonchain, a cryptocurrency analysis platform, Chinese whale Garrett Jin withdrew 35,001 Ethereum ($ZEC) worth $85 million from Binance and invested it in Hyperliquid. Garrett Jin currently holds a short position of 37,760 $ZEC, worth approximately $51.5 million. Therefore, it is estimated that he will use this $ETH purchase to sell $ETH and support his $ZEC short position.
Another giant whale traded in $SYN today, which has gained over 100% in value. Accordingly, the whale with address “0x161C” opened a 4x long position with 3.25 million $SYN ($588,000) on the Aster DEX and has currently earned an unrealized profit of $304,000. This represents a 207% return.
According to another on-chain data platform, Onchain Lens, a large $HYPE investor sold $27.45 million worth of spot positions today while maintaining a $30 million short position. While reducing the size of their $HYPE short position, the investor’s current spot position assets are approximately 343,640 $HYPE, valued at around $28.11 million.
Another large whale opened a long position of 3,380 $ZEC, worth approximately $4.56 million, on the Hyperliquid platform using 10x leverage.
Finally, Jiang Zhuoer, a well-known Chinese Bitcoin miner and founder of the $BTC.top mining pool, stated that he has bought back all the $BTC he previously sold. Believing that the current market buying momentum is strong, Zhuoer predicts that the Bitcoin price will rise to the $80,000 to $84,000 range.
*This is not investment advice.
Source: cryptonews.net