Bold Move: Whale Aggressively Shorts BTC with 40x Leverage
According to Coinbob address tracking data, on February 28, the well-known 'Strategy Counterparty' address (0x94d) opened a 40x leveraged short position on BTC at around $65,270. It added to the position again at 6 AM that day. Currently, the total short exposure has reached $34.3 million, with an average entry price of $65,300 and a liquidation level at $84,200.
At present, the position is underwater by approximately $230,000, representing a 27% unrealized loss. However, this account has remained highly active in the market for a long time, demonstrating strong capabilities in swing trading and timing market extremes.
Top Shorter in BTC and DASH
In addition to BTC, the address is also one of the largest shorters of DASH on-chain. Recently, it has reduced more than half of its DASH short position, still recording a profit of $4.1 million, with a yield as high as 581% and an average entry price of $71.30.
This address previously gained attention for initiating substantial short positions on major cryptocurrencies during MicroStrategy's (MSTR) aggressive BTC accumulation phase. Its trading style leans towards right-side trading, capturing profits through momentum swings and volatility.
Market Takeaways: Risks and Opportunities in Contrarian Trading
- High-leverage trading carries extreme risk and requires strict position and stop-loss control.
- Contrarian strategies demand deep market insight; retail investors should avoid blindly following trends.
- The address's historical performance shows strong swing-trade capability, making it worth long-term observation.