Whale Hedge Fund with $48M Long BTC Position Outperforms HYPE, Nets $1.28M Intraday Profit

BlockBeats News, March 30th, according to Hyperinsight monitoring, the whale (0x939) continues to hold a BTC/HYPE exchange rate hedge combination: longing BTC with a $28.5 million scale at an average price of $70,557; at the same time, shorting HYPE with a $19.38 million scale at an average price of $39.

Today, BTC continued to rise, while HYPE briefly followed the rise and then fell back below $38, with a 4.5% decrease in 24 hours. Both long and short positions strengthened, and this combination has made a profit of over $1.28 million in nearly 24 hours, temporarily realizing the judgment of betting on BTC outperforming HYPE.

This address had previously reduced its position with a similar logic, longing BTC with a scale of about $50 million while shorting ETH, XRP, ADA, and 8 other currencies. At that time, the strategy worked, and the overall profit for the cycle still remained at around $37.1 million.