Gate News reports that on March 10, according to Hyperinsight monitoring, a whale address starting with 0xcac has recently experienced a significant shift in its holdings structure. Previously, this address engaged in neutral arbitrage operations, earning profit from the spread between selling BTC spot and closing short positions or buying spot and adding to short positions.
Since the price of BTC dropped below $73,000, the address has begun to increase its short positions unilaterally, 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 include: 20x BTC short position worth $15.7 million, with an average price of $89,900, floating profit of $4.3 million (548%), and a funding rate settlement of $1.76 million; 10x HYPE short position worth $11.8 million, with an average price of $33.60, floating loss of $450,000 (-38%), and a funding rate settlement of $350,000; 20x ETH short position worth $7.04 million, with an average price of $4,011, floating profit of $6.64 million (1886%), and a funding rate settlement of $1.35 million.
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