A whale associated with Matrixport has closed substantial long positions in Bitcoin and Ethereum, realizing a $59 million profit. The whale exited 1,500 BTC, valued at $112.35 million, and 120,000 ETH, worth $286 million, across four digital wallets.
This significant move occurred amidst broader market liquidations totaling $246 million in futures. The market's sentiment for Bitcoin reaching $60,000 by the end of April is currently priced at a low 7% probability on prediction platforms, indicating potential bearish sentiment following the sell-off.
The whale's exit could exert short-term downward pressure on Ethereum, though its price prediction market still holds a high probability (99.9%) of staying above $1,800 by April 16.
Traders are watching upcoming Federal Reserve announcements and macroeconomic data releases closely, as any shifts in tone or policy, particularly from Jerome Powell, could influence market direction. Significant resistance breaches in spot markets are also key indicators to monitor.