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A new wallet splurged 16.97 million USD to go long on BTC, is big money betting on the future market?
[Coin World] There are significant movements on-chain. A new Address has just been detected pouring 3.86 million USDC into Hyperliquid, and shortly after, a long order of 196 BTC was placed at the price range of $86,500 to $86,750 — which amounts to approximately $16.97 million in Position.
This action is quite ruthless. The new wallet is directly heavily positioned in a long order, either extremely optimistic about the future market or it’s a test position by some institution. The price range is also quite precise, as if waiting for a wave of pullback to enter.
It is worth noting the timing of this capital entering the market. The market has been fluctuating back and forth at this position recently, and suddenly someone dares to place such a large bet, which surely indicates their own judgment logic.