Whale Shifts Focus to PAXG Shorts with $13M Position as Top Bear

Whale Shifts Strategy: Moving Shorts from Major Cryptos to On-Chain Gold

According to Coinbob's address tracking, since January 8, a whale address (0xfc66) has been significantly reducing its leveraged short positions on ETH, BTC, and SOL, with total exposure dropping from $45.6M to $17.6M.

At the same time, the whale has ramped up its short exposure on on-chain gold (PAXG), with current holdings reaching $13M at an average price of $4,517. The position is currently showing a floating loss of about 1.8%. The whale continues to add to this position as of press time, making it the largest short holder of PAXG on-chain.

• PAXG Shorts: $13M exposure at average $4,517, 1.8% floating loss.
• XRP Shorts: $13M exposure at average $2.056, 1.5% floating gain.
• HYPE Shorts: $5.87M exposure at average $24.38, 9.0% floating gain.

Equity Shorts Take Shape on Chain

Beyond crypto, the whale has opened 18 equity short positions on Hyperliquid, with major focus on well-known stocks like ORCL (Oracle), PLTR (Palantir), and AMZN (Amazon). The total value of these equity shorts is currently around $4M.

Combined, the whale's total exposure has reached $53.2M, indicating a broader strategy of diversified shorting across asset classes to capitalize on market volatility.