Expectation of Fed Rate Hike Drives Gold Lower, Whale Liquidates $2.08 Million Long Position

BlockBeats News, June 8th, according to Hyperinsight Monitor, spot gold fell about 1% within half an hour, hitting a low of $4,268, continuing Friday's decline. Since last Friday's US employment data landed better than expected, the market's expectation of a Fed rate hike has increased, and gold has cumulatively fallen by about 4.5%.

A whale on Hyperliquid, with a large long position in GOLD, was liquidated twice in a row, with a scale of 489.2 contracts, worth approximately $2.08 million, resulting in a loss of about $112,000.

Address: 0x92772bb3c161c573717865e59de038821935376c