Analysts speculate that a whale may have set up a $520 million Bitcoin short 40x leverage position on Hyperliquid as a trap to trigger a massive long. On Mar. 16, a Bitcoin (BTC) whale placed a massive $520 million short…

Was this $520M Bitcoin short on Hyperliquid a setup for a massive long?

After the bearish price action that began over the last weekend, Bitcoin has 
left some unfilled gaps open that could point to where the price is headed 
next. With two Fair Value Gaps (FVGs) yet to be filled, according to crypto 
analyst TehThomas, investors should expect a wave of uncertain movement in 
either direction. This is because Bitcoin needs to clear multiple liquidity 
levels before it is finally in a position to make a clean breakout. The Two 
FVGs Holding The Bitcoin Price Down In the analysis, Thomas explains that 
Bitcoin has created fair value gaps both above and below the current support 
level. The first of these lies above $117,000 and is expected to be the first 
to be filled. This position holds a lot of liquidity, and it is likely that 
this upper imbalance will be targeted first. Such a move would trigger stop 
losses and trap late longs who are tricked into buying the breakout. Related 
Reading: Market Expert Debunks Possible Bitcoin Top In November Using 9-12 
Months Retail Cycle However, this Bitcoin breakout is not expected to last for 
long since only one FVG will have been filled at this level. The next FVG is 
way below the recent lows recorded at the start of August, sitting just above 
$111,000. The crypto analyst expects that a retracement from the breakout will 
push it back down to this level. This decline is, in itself, bullish as it 
will fill the imbalance at a point where there is a lot of demand. Just like 
the sweep upward above $117,000, the retracement to $111,000 is expected to 
clear internal liquidity. This will provide a clean slate from the compressing 
structure that the Bitcoin price has been trading within and could be the 
start of the next major move upward. What’s Next After Internal Liquidity Is 
Cleared? Once this move is in motion, the analyst points to the descending 
trendline as the next important formation on the Bitcoin price chart. For the 
price to continue upward, Thomas explains that Bitcoin would have to react 
from the upper imbalance of the trendline before falling back lower. This is 
the level that would determine confirmation for the next move. Related 
Reading: Cardano Marks Historical Milestone With Governance Vote, Hoskinson 
Reacts With internal liquidity also completely cleared at the end of the 
trend, Bitcoin is expected to have a “clean position to rally.” Targets would 
be the liquidity build-up at the previous wicks and area of rejection, which 
pushes all the way up toward $120,000. “This would complete the full cycle of 
imbalance fill, liquidity grab, and directional expansion,” Thomas said. 
However, he also added that “Price is unlikely to sustain a move higher until 
both zones have been addressed.” Featured image from Dall.E, chart from 
TradingView.com

Bitcoin Could See Another Crash To Fill This Imbalance Before Rally To $120,000

The Smarter Web Company has launched Smarter Convert, a bitcoin-denominated 
convertible bond fully subscribed by institutional investor TOBAM for $21 
million. The initiative enables Smarter Web to raise capital while expanding 
its bitcoin treasury. TOBAM Backs Smarter Web With $21 Million Investment The 
Smarter Web Company has announced the successful launch of Smarter Convert, an 
[…]

Smarter Web Launches $21 Million Bitcoin-Denominated Convertible Bond

Aged YouTube accounts with a history of posting crypto news and investing tips 
have been taken over by bad actors to advertise a scam trading bot that steals 
crypto.

Crypto trader bot scam on YouTube looted 256 ETH: SentinelLABS

Crypto analysts have echoed the positive sentiment around Bitcoin, with some 
speculating it could jump to $125,000 in the near term.

Bitcoin, Ether, XRP price bump pushes market sentiment to ‘Greed’

Nexo has enhanced its partnership with the DP World Tour by introducing a new 
prize for golf players who hold a course record at the conclusion of a 
tournament. Prize Structure and Rules The digital assets wealth platform, 
Nexo, has deepened its partnership with the DP World Tour by launching of a 
pioneering new prize. […]