Nine consecutive wins! Ethereum whales quickly liquidated their "13 million USD heavy ETH" positions to make a profit before the Fed cut interest rates
After the Federal Reserve announced a 2-point interest rate cut at 2:00 a.m. today (18), Bitcoin started a rapid rise after 6:00 a.m., climbing to $62,500 at one point, and Ethereum also briefly broke through $2,400 earlier.
Since the market is not clear about the extent of the Fed's interest rate cut and the market's reaction, most investors have recently adopted a safer investment method. However, around 11 pm yesterday (18), analyst Aunt Ai posted a post saying that a whale who is good at swing trading once again spent $13.04 million to buy 5,659 ETH
As a result, just after 7 o'clock this morning, the whale liquidated 5,660 ETH at a price of $2,355, making a profit of $290,000 in just 8 hours. It was the ninth time that he made a profit in short-term swing trading. The winning rate is very amazing, making the community curious about who the trader behind this address is?
However, most investors may not be able to make profits through high-frequency short-term rolling like the above-mentioned whales, and are more likely to hold long-term. Although Ethereum once broke through $2,400 this morning, it is still weak compared to the increase in Bitcoin.
In addition to Ethereum, the overall market performance of other altcoins is not too good, causing Bitcoin's market share to continue to rise. At the time of writing, it has reached 58.5%, which has reached its highest level since April 2021.
Usually in the past few rounds of bull markets, the growth of most altcoins will exceed that of Bitcoin, thus driving Bitcoin's market share down. Therefore, some people believe that the collective surge of altcoins, including Ethereum, has not really arrived yet. Will it repeat history this time? Let us continue to observe.
