A Bitcoin giant makes a huge win with a $1.1 billion short position!
A $940 million liquidation triggers a 2021-style altcoin crisis.
Binance’s token mislabeling issue!
Is USDe’s “depegging” a coordinated attack?
Tether CEO says, “Bitcoin and Gold are the strongest currencies.”
Let’s analyze the news about the global economy and cryptocurrencies and consider economic trends together! Monday, October 13th, we’ll be discussing today’s cryptocurrency news and on-chain market conditions.
This program delivers the latest news to help you build your wealth. Let’s start with a 24-hour data headline from the cryptocurrency market.
A Bitcoin giant shorted $1.1 billion just before the tariffs were imposed and then made a $27 million profit. How did he know?
In recent days, new tariff issues have emerged between the U.S. and China, and market turbulence was expected. Amid this, a “giant whale” who held a large amount of Bitcoin from the early days boldly took a $1.1 billion short position. Ultimately, this strategy was successful, resulting in a reported profit of over $27 million.
This move was no mere coincidence; market participants and experts have analyzed that this was due to a deep understanding of price fluctuation patterns around geopolitical tensions and tariff announcements. Investors who make such moves just before major political events have previously dominated the market. The massive liquidation seen in the altcoin market in 2021 is thought to be part of this trend.
What followed this $1.1 billion short position is also worth noting. A staggering $9.4 billion was liquidated in the past 24 hours, demonstrating a “2021-style” altcoin market turmoil.
This rapid liquidation, which involved many leveraged trades, caused significant ripples, particularly in the altcoin market. While there have been reports of some tokens on Binance dropping to zero, the exchange explained that this was a misprint due to a “display issue.” This means that the prices did not actually drop to zero.
This confusion has also been linked to an oracle issue and the depegging of the USDe stablecoin. Binance has suggested that a “coordinated attack” may be involved, and is closely monitoring the impact on the system as a whole.
Let’s shift our perspective a bit and introduce the words of Tether (USDT) CEO Paolo Ardoino, who recently stated emphatically that “Bitcoin and gold will outlast any other currency.”
This is not simply a statement of confidence; it reflects market sentiment, where confidence in Bitcoin and gold as stores of value is growing amid the current financial instability and geopolitical risks. Indeed, many investors are increasingly shifting their funds to safe-haven assets to combat uncertainty.
This series of events has three major psychological and economic impacts.
First, market participants remain sensitive to geopolitical risks and policy fluctuations, and continue to take bold positions in response. The recent giant short is a symbol of that.
Second, while price fluctuations caused by large-scale liquidations cause short-term disruption, they also function as a healthy market adjustment mechanism. Technical issues, such as Binance’s mislabeling issue, have also come to light, but progress is being made in addressing them.
Third, demand for safe-haven assets like Bitcoin and gold is expected to continue to increase, contributing to long-term value creation.
That concludes today’s news highlights. Our channel provides in-depth, specialized features focused on valuable news in the cryptocurrency world. If you find this channel valuable, please share, follow, and turn on notifications.
See you tomorrow.
