Whale with 20,000 ETH long opens 650 BTC short
- —20,000 ETH long opened at $1,936, unrealized profit $14.06M
- —650 BTC short opened at $84,057, worth $53.68M
- —BTC short already shows $950K in unrealized gains
Why it matters: A major player is locking in ETH gains while hedging via a BTC short, a possible signal of a near-term reversal.
Source: PANews