On May 7th, COINOTAG reported insights from Onchain Lens that reveal significant trading activities among two major whale investors in the Bitcoin market. The first whale has initiated a **short position** utilizing a substantial capital of **5.58 million USDC**, leveraging it by **40x**. This strategic move equates to a notional value exceeding **$70 million**, although it is currently facing an unrealized loss of approximately **$891,000**. In parallel, the second whale has committed **4.9 million USDC** to open a more conservative **11x leveraged short position**, translating to a notional exposure of over **$56 million** and an unrealized loss of around **$604,000**. These activities highlight the ongoing volatility and cautious sentiment prevailing in the **crypto market**, underscoring the importance of leveraging data analytics in trading strategies.
Timely, reliable coverage of breaking news, insights, and analyses on Bitcoin and cryptocurrencies since 2018.
Disclaimer: The information provided on COINOTAG NEWS is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
© COINOTAG News 2024