Whale Bets Big on CLARITY Act Rejection: Massive Shorts on BTC, ETH, and ZEC
The CLARITY Act, a landmark crypto legislation in the US, is facing a crucial vote in the Senate today (September 15). If passed, it could lead to significant volatility across the digital asset sector. However, Democrats are pushing for additional changes, reducing the bill's chances of being signed into law before the end of the year.
An anonymous whale has opened massive short positions on Bitcoin (BTC), Ethereum (ETH), and Zcash (ZEC) ahead of the vote. The $47 million short position on BTC, $22 million short on ETH, and $4 million short on ZEC are significant bets against the market.
Analyst Midas expects a brutal dump in BTC if the legislation is rejected, potentially breaking below $70,000 and moving toward new lows. They also warned of an ultimate flashout to $50,000 'soon' and view $55K as the area where the bear market finally ends.
Contrary to this pessimism, another unknown whale closed a $58.4 million short position on BTC for a $266,000 profit before flipping to a 40x long on 900 BTC. This player has made over 914 trades so far and has a win rate of around 51.72%.
The vote itself doesn't guarantee the bill's passage, but its impact could be significant for the crypto market. Traders are bracing themselves for potential volatility regardless of the outcome.