On-chain tracker Lookonchain said the whale address starting with 0xedcd, previously known for taking a timely long ETH position before the market moved higher and making more than $10 million in profit, has now switched its stance to Bitcoin. The address has opened a 4x leveraged short position on BTC with a size of 640 BTC. Based on the figure cited in the source, the position is worth about $49.33 million. The update points to a clear shift in directional exposure by the same trader, from a profitable ETH long to a sizeable bearish BTC bet.
According to Lookonchain, the whale address beginning with 0xedcd has shifted to a bearish Bitcoin position after previously going long on ETH before the market rally and making more than $10 million in profit.
The address has opened a 4x leveraged BTC short with a position size of 640 BTC, valued at about $49.33 million based on the figure cited in the source.
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