As markets react to the signs that tensions between China and the United States are easing, a crypto-whale has invested $255,000,000 in Bitcoin and Ethereum.
You can read more about it here:
- After Trump’s confirmation of a meeting between Xi Jinping and Trump, Insider Whale opened up $255M worth of BTC and ETH.
- The market is up 3%, as traders take into account the easing of tensions between China and the United States.
- Fed rate reduction and ETFs approvals seen near-term as tailwinds.
Wimar.x, an on-chain analysis company, reported on Oct. 20 that an individual with a flawless trading history had opened leveraged long positions on Bitcoin and Ethereum.
Emelu.eth – Another analyst on the chain flagged The wallet 0x89Da opened a position of 25x leverage on 21,966ETH (about $99.5 million). This address had a previous win rate of 81% in 53 trades, and generated more than $2 million realized profit.
Whale activity after Trump confirms China Meeting
This timing coincides with that of Donald Trump, the U.S. President. confirmation He will meet Chinese president Xi Jinping in South Korea at the APEC Summit on October 31, 2017. Trump called Xi a “very strong leader” “The meeting’s aim is to achieve a “fair deal,” Marking a departure from the recent trade disputes which have rattled markets around the world.
Talks are likely to be focused on the rollback of tariffs and the resumption U.S. agriculture exports. These issues have been a burden on both economies.
Bitcoin and Ethereum surge as traders wager on eased tensions
It was a catalyst for a lot of activity. rebound in digital assets. Global crypto market capitalization rose by 3% over the last day to reach $3.8 trillion. Bitcoin rose 1.2%, trading above $110,000. Ethereum rose 2%, to $4,041. The Crypto Fear & Greed Index remains at 29, indicating continued caution but improving sentiment.
Upcoming catalysts include the Federal Reserve’s Oct. 28–29 meeting, where a rate cut It is possible that ETFs will be approved for altcoins such as XRP or Solana. The experts predict that the combination of these factors, as well as a reduction of trade tensions may extend the recovery to the end October.
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Source: crypto.news
