Buying-The-Dip? Crypto Trader Deploys $15M to Buy BTC, SOL, HYPE and PUMP

A trader established bullish bets successful large cryptocurrencies connected Monday arsenic the crypto marketplace declined, liquidating leveraged positions worthy $1.5 billion.

An code labelled "0x50dE6ef4D11B263DC2e4547602E963355E17dC81" deployed $15 cardinal successful USDC connected Hyperliquid, taking positions crossed bitcoin (BTC), solana (SOL), Hyperliquid's HYPE (HYPE) token, and PUMP, according to blockchain sleuth Lookonchain.

This sizable stake highlights however immoderate marketplace participants are positioning themselves to capitalize connected imaginable marketplace rebounds, viewing the pullback arsenic a premier buying accidental alternatively than a motion of sustained downturn.

The cryptocurrency marketplace has travel nether unit successful the past 24 hours, with Bitcoin falling implicit 2% beneath $113,000, a determination that has seen its marketplace worth driblet to $2.25 trillion, according to information root TradingView.

The weakness follows the dollar's resilience pursuing Wednesday's dovish Fed complaint cuts and has reinforced the post-Fed bearishness successful the options market.

Market volatility is expected to summation successful the coming days arsenic respective Federal Reserve policymakers, including Chairman Jerome Powell, are scheduled to speak. Adding to marketplace uncertainty, the all-important Personal Consumption Expenditures (PCE) ostentation study is acceptable for merchandise this Friday, offering captious penetration into ostentation trends and informing imaginable aboriginal complaint moves.

In parallel, the FTX bankruptcy betterment spot has confirmed that its 3rd circular of payments, totaling $1.6 billion, volition beryllium distributed to 4 groups of creditors connected Sept. 30.

These payments volition beryllium made done platforms specified arsenic BitGo, Payoneer, oregon Kraken, providing much-anticipated alleviation to stakeholders affected by the collapse.