BlockBeats News, February 26 — According to Coinbob’s hot address monitoring, a whale starting with 0x939 currently holds approximately $24.8 million in BTC long positions, with an unrealized loss of about $1.01 million. At the same time, it holds about $26.4 million in various altcoin short positions, involving 8 cryptocurrencies including ETH, XRP, and ADA. All are in a state of unrealized loss today.
This position structure may be a hedging strategy: with roughly equal long and short scales, betting that during a market downturn, altcoins with higher beta than BTC are more resilient. Previously, during market declines, this strategy provided stable returns.
However, today’s market has rebounded, with BTC rising about 4.4%, while most altcoins rebounded more strongly (ETH up 8.3%, XRP up 5.9%, ADA up 10.7%). As a result, the whale’s long and short positions are both under pressure, with overall losses increasing, and daily capital withdrawal exceeding $600,000.
Since altcoins recover much faster than Bitcoin, this hedging strategy is experiencing asymmetric losses. If the market continues to rebound and altcoins keep outperforming BTC, the whale’s losses could further expand.
This whale opened a large short position on Aster on its launch day, suffering significant capital drawdown, and closed the position at a loss during the sharp decline on October 11. Since then, it has frequently used 40x leverage to open large short positions. Recently, during market volatility, it has been attempting to generate stable returns through a hedging strategy.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Momentum Builds as Bitcoin Tests $70K for the Next Big Move
Bitcoin traded at $68,269 on Feb. 26, 2026, at 8 a.m. EST, pressing up against a stubborn resistance cluster that continues to dictate the short-term tone. The structure is constructive, momentum is attempting to pivot, and price is hovering in what seasoned traders would call a decision zone.
B
Coinpedia12m ago
K33 Research: The claim that "Jane Street dumped the market at 10 o'clock" lacks data support
K33 Research's analysis report shows that between January 2025 and February 2026, the average minute return at 10:00 AM for Bitcoin is in a strong zone. Although there have been negative returns in this period over the past four months, 34 minutes performed worse. The report also notes that BTC volatility peaks are related to the release of U.S. macroeconomic data and the opening of U.S. stock markets, and market discussions about "dumping" lack data support.
GateNews25m ago
Strategy Holds $47B in Bitcoin – So Why Is It Heavily Shorted?
_Strategy holds 717,722 BTC worth $47B as short interest hits 14%, about $6B, despite Bitcoin’s rebound to $70K._
Bitcoin has rebounded to around $70,000, yet it remains below its October 2025 peak.
During this recovery, Michael Saylor’s firm Strategy has become one of the most shorted large-c
LiveBTCNews56m ago
BTC and ETH options with a nominal value of $8.9 billion will expire and settle tomorrow. Options market data shows initial signs of bottom-fishing strength.
According to Greeks.live data, there will be a large-scale expiration of BTC and ETH options this Friday, totaling 116,000 and 206,000 contracts respectively. The market remains sluggish, with prevailing pessimism. Although there has been a slight rebound recently, confidence remains low, and the market is still in a bear phase.
GateNews1h ago
DMG Blockchain Releases Q1 Financial Report: Mined 69 Bitcoins, Multiple Performance Metrics Decline
DMG Blockchain, a Bitcoin mining company, announced its Q1 FY2026 financial report, with revenue of 11.2 million CAD, a year-over-year and quarter-over-quarter decrease, and mining output down to 69 Bitcoins. Hash rate increased to 1.76 EH/s. Total assets and cash decreased, net loss narrowed to 2.2 million CAD, but overall net profit turned into a loss due to changes in asset fair value.
GateNews1h ago
