Bitcoin Whale Closes $516 Million Short Position Ahead of FOMC Meeting, Nets $9.46 Million Profit

A Bitcoin whale closed a $516 million short position on March 18, ahead of the FOMC meeting, securing a $9.46 million profit. The investor leveraged a 40x short position on 6,210 BTC, betting against Bitcoin's price. Data from Hypurrscan revealed the whale initially opened a $368 million position at $84,043, facing liquidation above $85,592. Despite a failed attempt by a group of traders to trigger liquidation, the whale profited from Bitcoin's decline. Following this, the whale invested over $6.1 million in 3,200 Ether (ETH). The FOMC meeting on March 19 is anticipated to provide insights into the Federal Reserve's monetary policy for 2025, potentially influencing risk assets like Bitcoin. February's US CPI showed a lower-than-expected 2.8% increase, easing inflation concerns. Markets are pricing in a 99% chance the Fed will hold rates steady.