A certain hedge fund megawhale has a heavy position of 45 million in scale betting on weakening "ETH/BTC" exchange rate, with unrealized gains of $200,000 already recorded.

MarsBitNews

2026-03-17 06:52:37

Abstract generation in progress

Mars Finance News, March 17 — According to Hyperinsight monitoring, during this morning’s significant market rebound, the “Silver Iron Head Short Army” (0x61ce) simultaneously opened two opposite positions: a 20x leveraged long position in BTC and a 20x leveraged short position in ETH, each approximately $22 million, totaling $45 million, betting on a weakening ETH/BTC exchange rate. As of now, its BTC long position has a floating loss of $230,000 (-20%), and its ETH short position has a floating profit of $420,000 (+37%), resulting in an overall floating profit of $200,000 after offsetting. Based on its historical operations, this whale often hedges large commodity positions (such as silver and crude oil) with cryptocurrencies, favoring short strategies. This move may be a bet on a market correction, expecting ETH to decline more than BTC due to its higher beta, aiming to profit from the ETH/BTC downward movement.

ETH-1.16%

BTC-1.32%

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