A trader is bucking the trend to double down on their forecast that Bitcoin (BTC) will fall to $70,000 by year-end, holding a $2.25 million short position.
34 minutes ago
According to TradingBeats monitoring, against the backdrop of widespread market expectations that the Fed will pause interest rate hikes in October, cross-market trader greater-fools is still increasing its bearish bets on Bitcoin (BTC). The account has cumulatively invested around $4,381 since yesterday, adding two new bearish BTC predictions in the prediction market: - "BTC will fall to $65,000 by the end of the year" (Yes): Added around 11,000 contracts, invested about $2,639; current total position stands at roughly 136,100 contracts, with an implied probability of around 22.5% and a position value of approximately $30,600. - "BTC will fall to $70,000 by the end of the year" (Yes): Added 4,510 contracts, invested about $1,742; current total position is around 55,800 contracts, with an implied probability of roughly 35.5% and a position value of about $19,800. Meanwhile, the account still holds 26.97 BTC short positions on Hyperliquid, with a notional value of around $2.2528 million, an average entry price of roughly $69,962, and is currently facing an unrealized loss of approximately $365,200. After the release of U.S. September CPI data tonight, if inflation comes in higher than expected and prompts the market to reprice the monetary tightening path, this could become a short-term pressure factor for BTC.
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