Wealthy trader makes millions ahead of Powell's 2PM announcement

The crypto market is awaiting the conclusion of the Federal Open Market Committee (FOMC) meeting on Oct. 29 as to what the Federal Reserve will have to say about interest rates.

Currently, the federal fund rates lie within the range of 4%-4.25% and the crypto market is expecting the central bank to slash rates by 25 basis points.

Ahead of the announcement, a crypto whale with a 100% win rate has made a profit worth millions of dollars by closing long positions.

As per the on-chain analyst Onchain Lens, the trader closed his long position leveraged five times on Ethereum (ETH) to make a profit of $1.63 million. They have also extended their long position on Solana (SOL) and are poised to maintain the 100% win rate.

As per the latest Hyperbot data, the whale is sitting on an unrealized profit of more than $15 million. They have a long position leveraged 10 times open on 501,774.85 SOL worth more than $100 million.Source: 0xc2a30212a8ddac9e123944d6e29faddce994e5f2, Hyperbot

This is the same whale who profited by taking long positions on Bitcoin (BTC) and Ethereum (ETH) ahead of the September inflation data release on Oct. 24.

Related: Mysterious trader moves millions ahead of inflation data

How crypto market is trading

The total crypto market capitalization stood at $3.82 trillion at the time of writing, down 1.24% in the last 24 hours.

BTC was exchanging hands at $113,166.29, down 1.13% in a day. ETH was trading at $4,015.82, down 2.62% in a day.

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SOL was also down 0.21% in a day, trading at $199.82 at press time. However, it has surged more than 7% over the last week.

One of the leading blockchain networks, Solana is one of the pillars of the global decentralized finance (DeFi). The network’s builders and investors will gather at the Solana Breakpoint in Abu Dhabi in a few weeks when key strategic and operational concerns will be discussed at the annual developer and ecosystem conference.

This story was originally reported by TheStreet on Oct 29, 2025, where it first appeared in the Business News section. Add TheStreet as a Preferred Source by clicking here.

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