2026-01-09 07:21:25

Interesting position signals have emerged. Yesterday at noon, a major holder initiated a rather sophisticated hedging operation—first, they used 20x leverage to sell 397.98 BTC (short position, approximately $36.22 million), then around 12:40 PM, they bought 4383.15 ETH with 14x leverage (about $13.67 million in long position).

The logic behind this combination is quite clear: they are both bearish on Bitcoin's short-term performance and optimistic about Ethereum's rebound, using leveraged positions in two directions to balance each other and control overall risk exposure. However, the current unrealized gains are still fluctuating, with slight unrealized losses indicating that the market hasn't followed the big holder's script yet. How the subsequent market will unfold depends on whether BTC and ETH can provide clearer directions.

BTC-0,26%

ETH0,03%

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AirdropSweaterFan

· 11h ago

This big player really knows how to do the math. Even with unrealized losses, they still dare to do this. Their mindset is truly ruthless.

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SatsStacking

· 01-09 07:50

This move by the big player is quite interesting, but it's really awkward to be floating in loss. Looks like I still have to wait for the market to give signals.

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quietly_staking

· 01-09 07:48

The big player's move is indeed interesting, but I think he might be a bit overconfident. This kind of hedging sounds clever, but in reality, it's just betting that both sides can follow his rhythm. If there's unrealized loss, it means the market isn't buying it. With such heavy leverage on BTC shorts, essentially it's a bet on short-term decline. ETH longs are used for hedging, but it feels more like self-soothing against risk. It's better to go all-in on one direction directly; wavering back and forth is what really causes losses.

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OffchainOracle

· 01-09 07:46

This move by the big players is quite interesting, but for now, with only a slight unrealized loss, it seems we still need to wait for the market to give signals.

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StealthMoon