tl;dr
A whale with a $26.47 million position in Wrapped Bitcoin (WBTC) narrowly avoided liquidation on the DeFi platform Compound after Bitcoin's price dropped to $52,550 on September 6th. The whale faces potential liquidation of 488.45 WBTC with a health rate as low as 1.07 and a liquidation price of $50...
A whale with a $26.47 million position in Wrapped Bitcoin (WBTC) narrowly avoided liquidation on the DeFi platform Compound after Bitcoin's price dropped to $52,550 on September 6th. The whale faces potential liquidation of 488.45 WBTC with a health rate as low as 1.07 and a liquidation price of $50,429. Additionally, other addresses sold Bitcoin as its price dropped, while 836,000 addresses bought roughly 402,800 BTC worth $21 billion between $51,113 and $54,303. Galaxy Digital also deposited 1,458 BTC worth over $78 million into Coinbase Prime.
A crypto whale with a $26.47 million position in Wrapped Bitcoin (WBTC) is cutting it close after barely escaping liquidation last Friday. According to on-chain data tracker Lookonchain, a deep-pocketed whale with an Ethereum (ETH) address beginning with Oxceef was close to being liquidated on the decentralized finance (DeFi) platform Compound after Bitcoin dropped to as low as $52,550 on September 6th. WBTC is an ERC-20 token backed 1:1 by Bitcoin. It allows holders to use the token as collateral for financial transactions in the Ethereum ecosystem. Says Lookonchain, “A whale is facing potential liquidations of 488.45 WBTC ($26.47 million) on Compound, with a health rate as low as 1.07 and a liquidation price of $50,429. This whale was liquidated three times during the 2022 price crash, with a total of 74,426 cWBTC ($32.82 million) being liquidated.” The firm also spotted other addresses selling Bitcoin as BTC dropped in price late last week.
According to the firm, an address beginning with 3ExiBLw sold off 100 BTC worth $5.35 million for a profit of $206,000 once the price of Bitcoin dipped close to the entity’s break-even point. On the flip side, Lookonchain cites data from analytics firm IntoTheBlock that shows 836,000 addresses bought roughly 402,800 BTC worth $21 billion between $51,113 and $54,303. However, the blockchain tracker warns that those addresses may offload their holdings at breakeven prices. Lookonchain also spotted crypto firm Galaxy Digital depositing 1,458 BTC worth over $78 million into Coinbase Prime. Since Coinbase Prime offers trading and custody services, Galaxy Digital could have sent the BTC stack either for safekeeping or to be sold on the open market.
At the time of writing, Bitcoin is trading at $54,987.
More about C3 Ai Inc
```html
C3 Ai Inc (C3), a company in the technology and services-prepackaged software sector, currently has a market capitalization of $2.7 billion. The stock price has experienced a -2.28% change over the last trading session, closing at $25.94. The trading volume stood at 325,433,000 shares. The Relative Strength Index (RSI) is calculated at 2.674, indicating a neutral position. The stock is currently trading around its 20-day moving average, showing a value of -0.855. Additionally, the stock is exhibiting a bullish trend with a positive 0.205 value above its 200-day moving average.
```
More about
```html
As a seasoned Technical Analyst with over 25 years of experience in the stock market, my approach is fundamentally data-driven, delving deep into market charts, trends, and a wide array of technical indicators.
I utilize terms like 'support and resistance levels,' 'breakouts,' 'head and shoulders pattern,' and indicators of 'bullish or bearish trends' with precision to enlighten and guide my audience through market analysis.
My analyses are straightforward, laser-focused on the implications of findings, navigating the delicate balance between providing clear, actionable insights and acknowledging the inherent uncertainties of market prediction.
```