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Today, the crypto market is rebounding against the trend, with a macro hedge whale holding long positions in gold and silver while shorting crypto, losing $500,000 in a day.

BlockBeats News, March 3rd, according to HyperInsight monitoring, the risk hedging combination deployed by the whale starting with 0x7c9 suffered bidirectional losses during the day, with a fund withdrawal of over 500,000 USD. Currently, its account net value is about 1.88 million USD, while the total position size remains as high as 14.07 million USD.


The whale previously held a heavy long position of about 8 million USD in GOLD (Gold Mapping Contract) and SILVR (Silver Mapping Contract), supplemented by a "basket of short positions" of about 6 million USD, covering 102 cryptocurrencies, including mainstream coins such as BTC, ETH, and a variety of altcoins, attempting to hedge extreme risks through arbitrage.


However, today's market trend completely deviated from its projected direction: precious metals plummeted during the day, while the crypto market saw some recovery. Both the long and short sides were under pressure simultaneously, and all previous gains were completely lost.

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