Whale Reverses Position: Opens $12M BTC Long After Closing BTC, ETH Shorts

Whale Closes Shorts, Turns to Long Position

According to Coinbob's address tracking, on February 24, the whale address known as the 'Strategy Counterparty' (0x94d) closed all of its BTC and ETH short positions, locking in profits exceeding $76 million. The closed positions included:

• A $31.74M ETH short opened two days prior
• A $13.58M BTC short
• A $40.74M BTC short opened briefly today and closed within two hours

Shortly after, the whale opened a leveraged BTC long position worth $11.97M at an average price of $63,275. The account still has $11.8M in unused margin, with a weekly profit of $2.85M.

Shift From Shorts to Longs

Since December, this address has gradually built up short positions in BTC and ETH, starting with a $20M balance. Previously, its strategy was seen as directly opposing firms like MicroStrategy, which have been aggressively accumulating BTC, earning it the label of a 'chain-based counterparty.' This shift to a long position suggests the whale may be reevaluating the market outlook.