On March 16, according to Hyperinsight monitoring , over the past four days, a whale address starting with 0x133 opened a long position in EUR/USDC (Euro/US Dollar exchange rate) with 34x leverage, holding approximately $1.04 million, with an average entry price of $1.148, and currently experiencing a floating loss of about 10%.
From a macroeconomic perspective, this long may be based on the fact that the number of non-farm payrolls in the United States decreased by about 92,000 in February, and the unemployment rate rose slightly to 4.4%, indicating signs of a cooling labor market; at the same time, the CPI in February was about 2.4% year-on-year, suggesting that inflation may not have accelerated again.
However, the escalating geopolitical conflict between the US and Iran has significantly impacted the Federal Reserve's pace of interest rate cuts. This whale decision to heavily invest at this time may be a bet on a marginal reduction in geopolitical risks or even a de-escalation of the conflict. Market attention is now focused on the Federal Reserve's interest rate decision in the early hours of March 19th.
