A trader identified as 0x049b has opened a massive leveraged long position on Bitcoin and Ethereum, deploying $45.82 million in BTC and $44.67 million in ETH with 20x leverage. The move comes as geopolitical tensions between the United States, Israel, and Iran escalate, fueling global market volatility.
Despite the conflict near the Strait of Hormuz causing oil supply shocks and pushing investors toward traditional safe havens like gold, Bitcoin and Ethereum have shown resilience. BTC remains above $68,000, and ETH trades near $2,260, recovering faster than equities.
The leveraged position signals the trader's confidence in a continued rally, though observers note the risks from the unpredictable geopolitical landscape. Key factors to watch include any resolution or escalation in the US-Iran conflict, as well as US inflation data and central bank policy announcements.