Wealthy trader bets millions ahead of Fed's 2PM announcement

Core Insights - The crypto market is closely monitoring the Federal Open Market Committee (FOMC) meeting on October 29, anticipating a potential 25 basis points cut in federal fund rates, currently at 4%-4.25% [1] - A notable crypto whale has successfully closed long positions, generating profits worth millions, and maintains a 100% win rate [1][2] Market Performance - The total crypto market capitalization is reported at $3.82 trillion, reflecting a decrease of 1.24% in the last 24 hours [4] - Bitcoin (BTC) is trading at $113,166.29, down 1.13% in a day, while Ethereum (ETH) is at $4,015.82, down 2.62% [4] - Solana (SOL) is trading at $199.82, down 0.21% in a day, but has increased over 7% in the past week [5] Whale Activity - The whale closed a long position on Ethereum (ETH) with five times leverage, earning a profit of $1.63 million, and has an unrealized profit exceeding $15 million from a long position on Solana (SOL) with ten times leverage [2] - This whale previously profited from long positions on Bitcoin (BTC) and Ethereum (ETH) ahead of the September inflation data release [3] Upcoming Events - The Solana Breakpoint conference in Abu Dhabi will gather builders and investors to discuss strategic and operational concerns within the decentralized finance (DeFi) ecosystem [5]