bitcoin We mentioned that Bitfinex whales were waiting for a dump while trading at $40,000.
On March 11, there was a 234% increase in Bitfinex shorts as Bitcoin hit $40,000.
Today we see that these shorts are closed and become old.
The decrease of 3.5% seems to have satisfied these whales for now.
A rise can be expected
Bitfinex exchange and the largest stablecoin Tether are owned by the same company. For this reason, the sudden rises in the shorts here can give a clue that there is an insider news and a big dump will come. These whales, who occasionally foreshadowed the dumps in Bitcoin and aggressively increased their shorts, gave up early for now.
Closing these shorts bitcoinIt may be a harbinger of the rises to be experienced in the coming days. Because although the Nasdaq 100 closed the day with a loss of over 2% yesterday, we saw that Bitcoin continued to stay in the band of $ 38,000-$ 39,000.
Volatility will increase before and after tomorrow’s FED meeting. We will follow the reaction of the market to the Fed’s interest rate decision and Powell’s statements.
*These whales are aggressive bitcoin When we look at the historical data on shorts, we see that sometimes they know about dumps in advance and take positions accordingly, and sometimes they stay in reverse. Therefore, this data alone does not mean anything about the direction of the market.
*Not Investment Advice.