A cryptocurrency whale caused shock in the market after shorting $420 million in Bitcoin, which sparked discussions among traders. The decision, coming days following BTC hitting a new all-time high of about $126,000, indicates that large investors are ready for a brief pullback. With increased volatility in the market, analysts are turning to other resilient assets alternatively, with XRP and ADA notably among them.
Meanwhile, emerging presale projects like MAGACOIN FINANCE are also drawing interest from whales as a safer long-term altcoin investment.
Bitcoin Price Slumps as Whales Short
Bitcoin’s rally lost momentum this week after news of a huge short position of $420 million on the derivatives exchange Hyperliquid. Arkham blockchain data tracker reported that the trader used $80 million in margin with 6x leverage, indicating a strong belief in a BTC pullback. Soon after the trade emerged, the price of Bitcoin fell below $120,000, erasing its previous weekly achievement.
BTC Whale Movement | Source: X
The strategic move by the whale became profitable within a short time as BTC fell, as on-chain records revealed $660,000 in unrealized gains. However, analysts warn that this could prove to be a sophisticated hedge, but not a bearish bet. Other traders speculate that the whale may be offsetting holdings on other platforms or protecting spot positions from downside risk.
More so, the timing corresponds with the rising ETF inflows and profit-taking across markets. Bitcoin spot ETFs drew over $440 million in inflows this week, although technical indicators suggest consolidation could continue.
In addition, the daily Relative Strength Index (RSI) has dropped to 59, while the MACD is bullish, hinting that Bitcoin could find stability near the $120,000 zone before its next trend.
Will $55M Leverage Support Prevent XRP Breakdown?
Meanwhile, Ripple’s XRP experienced a fall of 2%, testing support at $2.78 as Bitcoin fell, producing market-wide liquidations. However, Coinglass derivatives statistics show that bulls are defending major zones with about $55 million leveraged long positions clustered around the $2.7 zone, which represents 58% of all active bullish contracts.
XRP Exchange Liquidations | Source: Coinglass
Despite the pressure, the volume of XRP being liquidated is relatively low at $17 million, which suggests that traders are moving positions rather than throwing their capital in. XRP is technically developing a double-bottom formation between $2.6 and $2.8 with a neckline at $3.1. Breaking past this would affirm a positive reversal and target the $3.6 mark during the coming sessions.
Analysts noted that the ability of XRP to remain stable even during volatile Bitcoin markets demonstrates the increasing levels of investor confidence. With the crypto market responding to the whale’s actions, MAGACOIN FINANCE, an Ethereum-based presale, is topping analysts’ lists as a safer option to diversify portfolio.
ADA Price Prediction
Cardano (ADA) is trading at approximately $0.80, withstanding the recent market volatility. Analysts predict that there could be a near-term retest of the $0.90 zone, followed by a possible breakout to $1.20 if ADA closes above the level of $0.95. The configuration is consistent with Bollinger Band compression, which indicates that volatility growth could lead to a major shift in either direction.
The RSI is at 44, a neutral momentum, with the opportunity to experience an upside continuation. A sustained surge above $0.90 level could lead to the levels of $1.13-$1.20, while an inability to hold support at $0.75 risks the possibility of further consolidation. Nonetheless, institutional sentiment is bullish, as ADA accumulated around long-term moving averages.
Analysts Call MAGACOIN FINANCE the Safer Altcoin Bet
As the crypto market moves through post-rally volatility, analysts have highlighted MAGACOIN FINANCE as a presale that stands out. The best crypto presale has smart contracts that are publicly audited with transparent operations. Backed by third-party verification from Hashex.org and an ongoing Certik audit, the project has earned credibility among institutional and retail investors.
As highlighted by researchers, the early-stage pricing and presale development of MAGACOIN FINANCE are its key benefits, having already gained the attention of thousands of investors. Its fully verified code and structured tokenomics make it a lower-risk entry altcoin when compared to high-volatility assets such as Bitcoin.
Final Take:
Bitcoin’s recent short of $420-million indicates that even whales are hedging exposure amid record-highs and macro uncertainty. With BTC outside of the range of $122,000 and $124,000, analysts are turning to altcoins such as XRP and ADA. Nevertheless, long-term investors seeking to venture into the next bull run safely are looking at MAGACOIN FINANCE as the best crypto to buy now.
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To learn more about MAGACOIN FINANCE, visit:
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Access: https://magacoinfinance.com/access
Twitter/X: https://x.com/magacoinfinance
Telegram: https://t.me/magacoinfinance
This article contains information about a cryptocurrency presale. Crypto Economy is not associated with the project. As with any initiative within the crypto ecosystem, we encourage users to do their own research before participating, carefully considering both the potential and the risks involved. This content is for informational purposes only and does not constitute investment advice.
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