[Whale Tracker] Trader Increases Bearish BTC/ETH Position by 50%, Totaling Nearly $30 Million

BlockBeats reports that on August 27, according to monitoring by TradingBeats (formerly Hyperinsight), the whale address 0x0911, which initiated a "long ETH, short BTC" pair position two days ago, continues to increase its position. The nominal value of the two legs has expanded from an initial approximately $20 million to about $29.38 million, an increase of roughly 46.9%. As of press time, the address holds a long position of 5,943.61 ETH, valued at approximately $14.819 million, with an average entry price of $2,486.64 and an unrealized profit of about $39,000. Simultaneously, it holds a short position of 184.95 BTC, valued at approximately $14.558 million, with an average entry price of $79,804 and an unrealized profit of about $201,000. The scale of both sides remains roughly equal, with a combined unrealized profit of approximately $241,000. When the position was established on August 25, BTC outperformed ETH by about 2.2 percentage points over the previous 24 hours. The actual average execution price of the two TWAP trades corresponded to a BTC/ETH ratio of approximately 32.20. Currently, BTC/ETH has dropped to around 31.57, a decline of about 2% from that time. Both the ETH long position and BTC short position are currently showing unrealized profits. If BTC/ETH continues to decline, the pair position will continue to benefit; however, if it rises back toward approximately 32.20, the existing unrealized profits may be eroded. This analysis does not account for transaction fees or funding rates.