Major Whale Bets Against Crypto: Impact on BTC, ETH, and SOL

• A new wallet deposited 6.68M USDC for leveraged shorts on BTC, ETH, and SOL.

A newly created wallet has garnered attention after betting against the crypto market through Hyperliquid, depositing 6.68 million USDC to short major tokens. This includes 430.64 BTC ($27.46 million), 4,280 ETH ($7.37 million), and 181,245 SOL ($13.24 million), totaling nearly $48 million in short positions.

Large leveraged trades reflect the outlook of well-capitalized traders but carry significant risks. A small price rise in Bitcoin, Ethereum, or Solana could trigger losses.

Bitcoin Trading Update

Currently, Bitcoin (BTC) trades at $63,888, with a daily volume of $18.9 billion, having surged 9.87% recently. Support is near $63,641 with potential resistance at $64K.

Ethereum's Position

Ethereum (ETH) hovers at $1,732 with a trading volume of $9.85 billion, up 23.29%. Support is likely at $1,619, with resistance around $1,811.

Solana's Trend

Solana (SOL) stands at $73.96, with a trading volume of $2.16 billion. The asset faces support at $72.04 and resistance near $74.52.