The US Federal Reserve (FED) announced its critical interest rate decision last night. While the 25 basis point cut was in line with expectations, FED Chair Jerome Powell maintained a hawkish stance.
Powell said most Fed officials want to delay rate cuts. He noted that after two consecutive rate cuts, some members are inclined to adopt a wait-and-see approach, adding, “A December rate cut is not a certainty.”
Bitcoin and altcoins experienced a correction due to Powell’s hawkish statements rather than the Fed’s decision.
Although the overall market is in decline, large investors known as whales are betting on a near-term recovery.
According to Lookonchain’s post, despite the market decline, many whales remain bullish and take long positions.
First, whale wallet 0x9553 opened its first position on Hyperliquid. Accordingly, the whale opened a 40x long position worth $19.9 million and 179.59 BTC.
The new wallet, 0x6988, deposited 1.95 million USDC into Hyperliquid and opened a 25x long position worth 18.71 million, worth 4,743 Etheruem (ETH).
Trader 0xd260, who completed 43 trades on Hyperliquid and had a win rate of 83.72%, opened a 40x long position worth $6.8 million and 62 BTC.
Again, Bitcoin OG Owen Gunden, who holds over 10,000 BTC, continued his recent BTC sell-off and deposited 395.8 BTC worth $43.5 million to Kraken.
The whale deposited 2,587.6 BTC worth $290 million into Kraken in less than 10 days.
Another whale, 0x5509, panic-sold 10,000 ETH worth $39.1 million, which he bought two months ago, incurring a loss of $7.5 million.
Finally, the whale, with a 100% win rate, opened a 13x long position on BTC and a 10x long position on ETH. He added to his 10x long position on Solana and has an open order to add to his ETH position.
*This is not investment advice.