The Whale Trader Used a $158 Million Large Order to Front-Run the "Bull Market Rally," Driving Bitcoin All the Way Up to $100,000
BlockBeats News, September 2nd, according to TradingBeats monitoring, a whale with an address starting with 0xf517 currently holds a long position of 106.36 BTC, with a position value of approximately $8.133 million. However, the combined open orders on both sides have reached about $158 million, nearly 20 times the current holding value.
The core of this order set indicates that the whale may plan to either leverage the pullback to increase their position or gradually take profit as the price rises.
The support area below is concentrated between $71,111 and $75,777. This address holds a total of 3 buy orders, planning to buy 1049.84 BTC, with a nominal amount of around $76.88 million. Two of these orders at $75,777 and $71,111 were added today, totaling approximately $51.88 million. If all orders are filled, their BTC holdings will increase to about 1156 BTC.
The profit-taking range above has been preset. The address has set two "reduce-only" sell orders at $77,777 and $88,888, covering the current 106.36 BTC long position. Additionally, they have placed 164 regular sell orders between $84,509 and $108,888, planning to sell 715.69 BTC, with a nominal amount of around $71.37 million.
If the buy orders below are filled first, the sell grid above will mainly be used for taking profits in stages and adding new positions. Based on the current order book calculations, even if all profit-taking sell orders are executed, the address will still hold about 334 BTC in a bullish view.
The current BTC price is around $76,500. The first buy order at $75,777 is less than 1% away from the current price, while the profit-taking grid at higher levels extends all the way up to $108,888.
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