SEC Delay Of Bitcoin ETF Decision Triggers ETH Whales Sell-Off
A recent report from Scopescan has revealed that a whale has sold 18,000 worth $29.4 million on-chain after the SEC delayed its decision on Bitcoin’s ETF. The whale had received these ETH back in July when ETH was valued at around $1,850. Currently, the whale still holds 4,000 ETH worth $6.5 million.
On August 16, the whale known as 0x1E7F borrowed 50,000 BNB worth $11.6 million from VenusProtocol and sent it to . Five hours ago, 0x1E7F withdrew the BNB from Binance and repaid the loan. If 0x1E7F had shorted BNB on August 16 and bought back today, they would have pocketed around $0.8 million in profit.
According to Lookonchain, a recent report revealed that a whale in the cryptocurrency market seems to be affected by FOMO during recent market volatility. The whale has been panic-selling ETH after the market falls and buying ETH after the market rises. The whale sold 12,000 ETH worth $19.77 million at a loss again after the market dropped nine hours.
Meanwhile, another whale has not been good at perpetual contracts, as evidenced by the liquidation of their ETH-long positions in the last two market crashes, resulting in a loss of approximately $5.1 million.
This whale is really not good at perpetual contracts.The ETH-long positions of this whale were liquidated in the last two market crashes, with a loss of ~$5.1M.And after the market rose yesterday, the whale went long $ETH again at the entry price of $1,717. pic.twitter.com/ULij4nPKpd
— Lookonchain (@lookonchain) August 31, 2023
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