Yaduo's "Digital Gold" outperforms spot gold, with whales opening long positions on BTC to hedge against gold short-term unrealized losses

BlockBeats News, March 2 — According to Coinbob’s popular address monitoring, in the past hour, the 0x610 whale’s gold short positions have expanded into unrealized losses, and the address has once again started to attempt to go long on BTC. The long positions opened within the past hour are the third attempt since the 28th, possibly as a short-term risk hedging strategy using “digital gold” to offset physical gold risks. The current position size is $2 million, with an average price of $66,200.

Time rewinds three days. On February 26 at 10 PM, the third round of US-Iran negotiations in Geneva began, with gold hovering around $5,200 per ounce. As global funds flooded into safe-haven assets, this address reversed and opened a GOLD (gold-mapped contract) short position.

On February 28, news of a joint US-Israel airstrike was released, causing gold to spike briefly, and the short position entered unrealized losses — on the same day, the address added to its gold short position and opened a SILVER (silver-mapped contract) short position, continuing to bet on the decline of safe-haven assets. The next day, the address opened a BTC long position in the early morning.