The new week in the cryptocurrency market began with the next fall. In the aggregate over the past month, the price of bitcoin (BTC) decreased by 14%. Many investors lose money because of this, and some record profit.
Lookonchain analysts drew attention to the whale, which perfectly predicted the bitcoin price movement and earned more than $ 7.5 million on the BTC shorts.
How the trader played on the fall of Bitcoin
According to experts, on February 22, a large investor opened Bitcoin shorts at a price of about $ 96,500. During the week, BTC cost sharply below $ 80,000, which allowed the trader to close the position near $ 78,900, fixing a profit of $ 7.5 million at the local bottom.
After that, Bitcoin began to recover. One of the key drivers was the signing by Donald Trump an executive decree on the creation of a crypto -cutter in the United States. Against the background of the event, the BTC rate rose to $ 94,000. A large investor did not miss the moment and again opened a short shorts of $ 94,424.
Now the trader is waiting for a fall again. He set additional shorts in the range of $ 92,449- $ 92,636 and set limit orders to fix profit in the region of $ 70,475- $ 74 192.
Why BTC falls
According to CoinmarketCap, at the time of writing this material, the BTC is traded at $ 79,440. Over the past day, the price of cryptocurrency sank by 3%.
The reason for the protracted drop in cryptocurrency is macroeconomic instability. The global market is experiencing increased volatility due to new trade duties that introduced the United States and Canada.
In addition, the situation around the US crypto -cutter affects the Bitcoin negatively. Trump’s decree implies that the government will fill it at the expense of confiscated BTC, and not through direct purchases on the market. In addition, many disappointed the fact that the reserve would consist not only of the first capitalization of cryptocurrency, but also altcoins.
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Source: Cryptocurrency
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