An interesting reverse operation is coming. A certain big holder (0x50b…c9f20) has recently adopted a rather unconventional strategy—the hedge combination of ETH long and BTC short positions.

Details of the holdings are as follows: the ETH long position opened just yesterday has already accumulated 27,304 ETH, currently worth over 80 million USD. The entry price was $2931.9, with an unrealized loss of over $5,000. Nine hours ago, they also shorted BTC, with a short position of over 250 BTC, totaling approximately 21.9 million USD, entered at $87334.2. The unrealized loss on this position has reached $46,000.

This move is a typical inter-asset hedge—being bullish on ETH while shorting BTC, possibly reflecting divergent expectations on the two main lines. In the current market environment, strategies like this from large holders are becoming increasingly common.