Garrett Bullish Scores Big with $2.7M Profit from BTC Trades

Garrett Bullish, a well-known cryptocurrency whale, has made a significant move in the market. According to recent data, he closed 1,868.33 BTC longs for a profit of $2.736M. This is not an isolated incident, as Bullish was previously liquidated for $230M.

This latest move comes at a time when the BTC price is testing the lower Bollinger support at $78,967 and the EMA50 resistance holds at $79,035. The MACD also shows a death cross, indicating bearish momentum in the market.

The profit from this trade was not only due to the increase in BTC price but also due to the funding fees on the long-held position, which reached $2.071M. This highlights the impact of perpetual futures funding fees on long-term BTC positions.