Today, the crypto market rebounds against the trend; macro hedging whales holding long positions in gold and silver and short positions in crypto lose $500,000 in a single day.
ChainCatcher news, according to HyperInsight monitoring, the hedging portfolio deployed by the whale starting with 0x7c9 suffered losses on both sides today, with a capital drawdown exceeding $500,000. Currently, the account's net value is about $1.88 million, while the total position size remains as high as $14.07 million.
This whale previously heavily invested about $8 million in GOLD (gold-mapped contract) and SILVR (silver-mapped contract) long positions, supplemented by a basket of short positions worth about $6 million, covering 102 cryptocurrencies including BTC, ETH and other major coins as well as numerous altcoins, attempting to hedge against extreme risks. However, the market trend completely diverged from the whale's expectations: precious metals dropped during the day, while the crypto market rebounded. Both long and short positions came under pressure, and all previous floating profits were wiped out.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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