BlockBeats report: On September 17, according to TradingBeats monitoring, after the Fed rate hike was implemented, BTC million-dollar whale new positions, the cost-intensive zone, liquidation risk, and options expiry are overlapping in only a few price ranges.

BTC provisionally reports about $76,440. After the decision, a total of 20 addresses that had previously been near-zero positions re-established positions at the million-dollar level; of these, 12 ultimately built long positions and 8 built short positions. Based on the current price, the new longs are about $30.75 million and the new shorts about $25.64 million. Overall, the added positions are slightly long-biased, but the advantage is not significant.

When these new positions were established, a large number of the existing large positions were already squeezed into nearby cost zones. Currently, the common profit-and-loss conversion zone for BTC million-dollar whales is concentrated between $76,000 and $77,750, while the BTC current price has already entered this region.

Option positions overlap partially near the current price. The maximum pain point of today’s expiring BTC options is around $76,500, less than 0.1% away from the current price, and will settle within 2 hours. The next options delivery focus will then move even closer to another group of whale risk lines.

The liquidation distribution shows that on both sides above and below the current price there are large potential liquidation strongholds. On one side, a whale-sized position worth tens of millions is already quite close to liquidation, while on the other side the truly large risk needs to move further away, but both sides can be cross-validated with the options data.

Among all BTC addresses with million-dollar balances, the most densely built long-entry cost zone is between $78,000 and $79,000; shorts are mainly concentrated between $76,000 and $77,500.

As price moves upward by any amount, it will keep changing the profit-and-loss status of a batch of large short positions. If price moves further above $78,000, those previously trapped large longs will gradually approach breakeven.

Options end aligns with the current price: the current price is near the area of maximum options delivery pain. According to Deribit data, the maximum pain point for BTC options expiring on September 17 is about $76,500, less than 0.5% away from the current price. For this batch, there are about 5,000 BTC open contracts, and they will settle at 16:00 Beijing time on September 17.

The full order-book liquidation distribution shows that, currently, the two most prominent strength peaks are still located near the long region around $72,800 to $73,000 (about $62 million), and the short region around $77,400 to $77,600 (about $46.8 million).

The biggest short-side liquidation pain involves two major whale addresses:

One of the most worth-watching large shorts comes from an address starting with 0xccf3. This address holds an approximately 575.72 BTC short position worth about $43.851 million, with an average entry price of $75,853, and an estimated liquidation price of $77,492. This liquidation line is only about 1.7% away from the current price.

Even closer to the current price, 0x396d holds an approximately $7.79 million BTC short position, with an estimated liquidation price of about $77,002, which is about 1.1% away from the current price.

Options data: The maximum pain point of the BTC options expiring on September 18 currently lies around $77,500 to $78,000, with a size of about 22,000 BTC. This location almost coincides with the liquidation line of the $43.85 million short position from 0xccf3, and it is also right next to the peak of short-side liquidation strength across the full order book around $77,400 to $77,600.

The biggest long-side pain points on the downside involve whale addresses:

A whale starting with 0x6046. This address currently holds an approximately 702.68 BTC long position worth about $53.521 million, with an average entry price as high as $80,118. Its unrealized loss is about $2.777 million, and the liquidation price is around $72,672. This risk line is about 4.6% away from the current price.

There is also similar resonance on the downside. The BTC options expiring on September 25 (quarterly expiry) is currently the largest upcoming near-term delivery batch: the open interest is about 188,000 BTC, with a notional value around $14.3 billion. The current maximum pain point is around $72,000.

This position is within the same major range as the $72,672 liquidation line of the 0x6046 long position worth about $53.52 million, as well as the Hyperliquid full order-book long liquidation peak around $72,800 to $73,000.

After the rate hike was implemented, some whales moved their pickup prices further downward. The three key whale positions still keep roughly $132 million worth of buy orders below.

After the decision was implemented, some whales adjusted their lower pickup plans again. The 0xb1ec that had been continuously tracked previously had its earlier large buy orders at $73,433. After the decision, this address posted buy orders again at $72,733, corresponding to about $29.09 million. The pickup price was moved down by a further $700.

The other 0x8af7 address continues to keep a large range of stepped buy orders between $70,000 and $74,000; 0x92b7 is also placing large standard buy orders around $74,000.

Address:

0xccf3fff396a14d55d93366f870c007425e9f2a75

0x396dc3e4d1051837bb559810d2b1ea7977775899

0x60468ba27448f88b19f52ed02f1a8c52f7a0b21d

0xb1ec7febea4f841d525785955b7fe0e812d6e86a

0x8af700ba841f30e0a3fcb0ee4c4a9d223e1efa05

0x92b75a5bfb7be7911747276ad335b8f5da3ce0f4