A prominent Bitcoin whale has made a bold move ahead of the much-anticipated Federal Open Market Committee (FOMC) meeting this week, closing over half a billion dollars in short positions and securing a $9.46 million profit.
According to data from Hypurrscan, the investor opened a 40x leveraged short position for 6,210 BTC, worth approximately $516 million, at a price of $84,043 per Bitcoin. The whale faced liquidation had Bitcoin surged past $85,592 but managed to navigate market turbulence to exit with a substantial gain.
Strategic Profit-Taking Amid Market Volatility
Leveraged trading, which involves borrowing capital to amplify gains or losses, carries significant risk. In this case, the whale initially entered with $368 million and was forced to inject an additional $5 million after a coordinated group of traders attempted to liquidate the position. Despite this challenge, the investor successfully closed all shorts within hours, turning a quick profit before shifting attention to Ethereum (ETH).
Etherscan data reveals that the whale has reinvested his Bitcoin profits into Ethereum, acquiring over 3,200 ETH valued at $6.1 million at 7:31 AM UTC on March 18. This shift suggests confidence in Ethereum’s near-term performance amid broader market uncertainty.
This whale still managed to turn a profit despite being hunted by a team!
— Lookonchain (@lookonchain) March 17, 2025
11 hours ago, @Cbb0fe publicly formed a team to hunt this whale who shorted $BTC with 40x leverage.
Just one hour later, the team was in action, driving $BTC above $84,690 in a short period.
The whale… pic.twitter.com/D6FBOFikZR
FOMC Meeting Looms Over Crypto Market
The timing of this profit-taking is significant, occurring just a day before the FOMC meeting on March 19. The meeting is expected to provide insights into the Federal Reserve’s monetary policy for 2025, which could impact investor sentiment and the trajectory of risk assets like Bitcoin.
Recent data shows inflation concerns are easing, with the US Consumer Price Index (CPI) for February rising by 2.8% year-over-year—below the expected 2.9%. Analysts suggest this trend may influence the Fed’s decision-making, potentially stabilizing Bitcoin’s price around the critical $81,000 support level.
Meanwhile, the CME Group’s FedWatch tool indicates a 99% probability that interest rates will remain unchanged. However, any unexpected hawkish signals from the Fed could apply downward pressure on Bitcoin and other cryptocurrencies.
Also Read: Bitcoin’s Make-or-Break Moment: Will ETF Inflows Ignite a $90K Surge or Trigger a Crash?
As market participants brace for the FOMC decision, Bitcoin’s price action remains in focus, with whales and institutional investors positioning themselves for potential volatility.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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