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Quick Take Summary is AI generated, newsroom reviewed. A massive Bitcoin whale opened $900M in short positions on BTC and ETH. The whale holds over $11B in assets, signaling significant market influence. Analysts are divided — some call it a hedge, others see it as a bearish bet. The move could trigger volatility across BTC and ETH market trends.References 🚨NEW: A massive $11 BILLION Bitcoin whale just opened $900M in short positions on $BTC and $ETH.
Market sentiment reversed sharply, with global stock markets collectively declining on Tuesday. Gold, silver, and copper retreated, and cryptocurrencies experienced a widespread drop.
The mysterious trader "whale" acted swiftly and decisively. After depositing $40 million in principal on Monday, this address used 10x leverage to establish a bitcoin short position with a notional value of approximately $340 millions.
The application deadline is November 3rd.
Defying Market Turbulence: World's Largest Corporate Bitcoin Holder Buys More Amid Unprecedented Volatility
- 18:46U.S. crypto mining stocks remain highly active, with Bitfarms up over 14%, and MARA, WULF, and CLSK all rising more than 10%.Jinse Finance reported that US-listed crypto mining companies remained highly active, with Bitfarms rising over 14%, MARA, WULF, and CLSK up more than 10%, IREN up over 9%, and APLD and CIFR following with a 4% increase.
- 18:38CME announces that SOL and XRP futures options are now available for tradingJinse Finance reported that derivatives market CME has announced that its Solana (SOL) and XRP futures options are now available for trading. Clients can now trade SOL, Micro SOL, XRP, and Micro XRP futures options, with choices of daily, monthly, and quarterly expirations. The first XRP futures options trade took place on Sunday, October 12, executed by Wintermute and Superstate. The first SOL futures options trade took place on Monday, October 13, executed by Cumberland DRW and Galaxy.
- 18:31Powell: Despite the lack of recent data, the U.S. economy appears to remain stableJinse Finance reported that Federal Reserve Chairman Jerome Powell stated that despite the lack of recent data due to the ongoing government shutdown, the U.S. economy still appears to be in a stable condition. Powell said in a speech to economists on Tuesday: "Based on the data we have, it is fair to say that since our September meeting four weeks ago, there has not been much change in the outlook for employment and inflation." However, when answering questions about the government shutdown, he added: "If this situation persists for some time, we will start to miss this data, especially the data for October." On economic issues, Powell reiterated a theme from his recent remarks, saying, "There is no risk-free policy path amid the tension between employment and inflation targets." Powell also stated that the Federal Reserve may reach a point in the coming months where it could end its efforts to shrink the balance sheet.