PANews reported on October 7 that according to monitoring by on-chain analyst Yu Jin, a whale who shorted 10,796 ETH has basically given back all of his $9.75 million in unrealized profits. On September 13, the whale shorted 10,796 ETH at $4,718, and then ETH continued to fall. On September 25, ETH fell to $3,815, with a unrealized profit of $9.75 million. Now, ETH has risen back to near his opening price, and the unrealized profits have basically been given back.


Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday. The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction. “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more
