This time, the giant whale isn’t “testing”—it directly closed out its long positions.
BlockBeats news, September 24. According to monitoring by TradingBeats, amid today’s large-volume trades, 7 addresses have completed the full liquidation of long positions worth tens of millions of dollars; 6 of them involve BTC, and 1 involves ZEC. The long-closure trades today totaled approximately $356 million.
After liquidating, 4 addresses no longer show trading activity, and the accounts still collectively hold about $37.73 million in USDC. The other 3 addresses continue to carry out shorting/long-switching or keep other long positions. Looking at it, one scenario is that high-level longs continue to proactively deleverage, amplifying market volatility; another scenario is that the funds are only making a temporary rotation, and whether they will take new positions later is what matters more. Are you more focused on BTC’s follow-through, or on ZEC’s short-term sentiment?
Figure 1: Giant whale clears $356 million in long orders · Source: partial screenshot of the page
Image source: https://www.theblockbeats.info/flash/368758
BlockBeats news, September 24. According to monitoring by TradingBeats, amid today’s large-volume trades, 7 addresses have completed the full liquidation of long positions worth tens of millions of dollars; 6 of them involve BTC, and 1 involves ZEC. The long-closure trades today totaled approximately $356 million.
After liquidating, 4 addresses no longer show trading activity, and the accounts still collectively hold about $37.73 million in USDC. The other 3 addresses continue to carry out shorting/long-switching or keep other long positions. Looking at it, one scenario is that high-level longs continue to proactively deleverage, amplifying market volatility; another scenario is that the funds are only making a temporary rotation, and whether they will take new positions later is what matters more. Are you more focused on BTC’s follow-through, or on ZEC’s short-term sentiment?
Figure 1: Giant whale clears $356 million in long orders · Source: partial screenshot of the page
Image source: https://www.theblockbeats.info/flash/368758
