A long-term hedging arbitrage address has shifted to a bearish outlook, with the total short position reaching $34.9 million.

CoinNetwork · 2026-03-10T13:00:12+00:00

On March 10th, Hyperinsight monitoring showed that the whale address 0xcac recently changed its holdings structure, shifting from neutral arbitrage to unilateral long positions. Currently, this address holds approximately $11 million in spot assets, while its short positions have expanded to $34.9 million. The main positions include 20x BTC short positions with an unrealized profit of $4.3 million.

CoinNetwork

2026-03-10 13:00:12

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Crypto World News: On March 10, according to Hyperinsight monitoring, the position structure of a whale address starting with 0xcac has recently undergone a significant shift. Previously, this address engaged in neutral arbitrage operations for a long time, earning from the spread between selling BTC spot and closing short positions, or buying spot and adding to short positions. Since Bitcoin’s price dropped below $73,000, it has begun to add to short positions unidirectionally, no longer hedging. Currently, it still holds about $11 million in ETH and BTC spot, but the total short position has expanded to $34.9 million. Its main positions are 20x BTC shorts: a position size of $15.7 million, an average price of $89,900, with an unrealized profit of $4.3 million (548%), and a funding rate settlement of $1.76 million. 10x HYPE shorts: a position size of $11.8 million, an average price of $33.60, with an unrealized loss of $450,000 (-38%), and a funding rate settlement of $350,000. 20x ETH shorts: a position size of $7.04 million, an average price of $4,011, with an unrealized profit of $6.64 million (1886%), and a funding rate settlement of $1.35 million.

BTC2.34%

ETH1.27%

HYPE-0.86%

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