After closing a losing long position on Zcash with a loss of $846 000, active trader 0x152e has drastically changed his trading approach. The current price of Bitcoin is at $92.38K, while ZEC is trading near $405.04.
The trader’s new trading strategy is based on two opposing directions. On one hand, he opened a short position with fivefold leverage on 4,574.87 $ZEC with a total value of $2.66 million, expecting a correction in the cryptocurrency. This decision was made amid the recovery of ZEC from previous lows.
Meanwhile, the trader has deployed an aggressive long vector on the senior asset. The Bitcoin position with twentyfold leverage covers 367.36 BTC and is valued at $31.63 million, demonstrating a significant increase in bets on the upward movement of $BTC.
This contrasting approach of working simultaneously with two assets indicates a strategic portfolio recalculation. It seems the trader is overestimating the prospects of Bitcoin’s recovery while hedging against further Zcash decline, showing increased confidence in the potential of the crypto market leader.
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Address 0x152e reorients the portfolio: an aggressive short on $ZEC and a large long on $BTC
After closing a losing long position on Zcash with a loss of $846 000, active trader 0x152e has drastically changed his trading approach. The current price of Bitcoin is at $92.38K, while ZEC is trading near $405.04.
The trader’s new trading strategy is based on two opposing directions. On one hand, he opened a short position with fivefold leverage on 4,574.87 $ZEC with a total value of $2.66 million, expecting a correction in the cryptocurrency. This decision was made amid the recovery of ZEC from previous lows.
Meanwhile, the trader has deployed an aggressive long vector on the senior asset. The Bitcoin position with twentyfold leverage covers 367.36 BTC and is valued at $31.63 million, demonstrating a significant increase in bets on the upward movement of $BTC.
This contrasting approach of working simultaneously with two assets indicates a strategic portfolio recalculation. It seems the trader is overestimating the prospects of Bitcoin’s recovery while hedging against further Zcash decline, showing increased confidence in the potential of the crypto market leader.