The swing whale"Strategy Opposite Position" continued to increase its long positions in BTC and ETH, bringing its total open interest back to $272 mil...

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TL;DR

A whale address, known as the 'on-chain counterparty' to MicroStrategy, has reopened large leveraged long positions in BTC and ETH, totaling $272 million, after closing previous positions with losses. This move follows a strategy of buying dips, indicating renewed market entry despite recent volatility.

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BitcoinHalving TokensEthereumLayer 1Smart ContractsStrategycryptocurrencywhale tradingBTCETHleverage
According to Mars Finance, on January 19th, Coinbob's monitoring of popular addresses showed that the whale address (0x94d), the counterparty to Strategy, had been continuously increasing its long positions in BTC and ETH in recent hours, bringing its total holdings to $272 million. This position was opened two hours prior. Specific position information is as follows: 15x ETH long positions: approximately $221 million in holdings, average price $3213, unrealized loss of $240,000; 20x BTC long positions: approximately $43.7 million in holdings, average price $9.30, unrealized loss of $30,000. Earlier today, this address had closed its long positions in the three major cryptocurrencies due to market volatility, incurring losses exceeding $15.3 million. Subsequently, it used 20x leverage to buy BTC and ETH at the buy the dips, with related holdings reaching $53 million at one point. These long positions were all closed around 3 PM today, and this operation indicates its re-entry into the market to buy the dips. This address began building its position in December of last year, with an initial account size of approximately $20 million. It subsequently gradually increased its short positions in major cryptocurrencies such as BTC and ETH. Because its trading strategy was contrary to that of MicroStrategy, a publicly traded company that continuously purchased BTC, this address was considered by the market to be its clear "on-chain counterparty." Recently, its main holdings have repeatedly reversed long large long positions, with the total holdings reaching hundreds of millions of dollars.

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