2025-12-31 12:25:49

On-chain data has once again caught a legendary move by a big fish. Address 0x50b... the whale recently executed a bold leverage hedge, leaving market observers stunned.

What exactly did they do? To put it simply—opened a 20x short position on BTC and an 18x long position on ETH, with a total amount close to $50 million. The specific figures are 798.73 BTC in short positions (worth over $35 million), combined with 5,626.42 ETH in long positions (worth over $15 million). This is a classic crypto pair hedge strategy, betting that the relative prices of BTC and ETH will move in the direction they favor.

But the real kicker is—leverage was cranked up to 18-20x. The risk factor skyrocketed. Even slight volatility could wipe out the entire position; it's no joke.

What’s more heartbreaking is that this operation is currently losing money. The real-time unrealized loss has already surged to $240,000. In the current environment of high interest rates and volatile market sentiment, this whale’s choice to use such aggressive leverage for hedging—are they holding a secret weapon or walking a tightrope? Is this unrealized loss just a temporary fluctuation, or has the entire strategy already collapsed?

Honestly, big high-leverage hedge operations like this in the crypto world look very cool, but the risk management behind them needs to be meticulous down to the smallest detail. How this move ends is worth watching. What do you think about this whale’s move? Any thoughts?

BTC-0,58%

ETH0,42%

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MeaninglessApe

· 9h ago

Haha, using 20x leverage and determined to go bankrupt, still daring to hold the position with a floating loss of 240,000. This brother isn't just a gambler, he's got real skills.

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GateUser-bd883c58

· 9h ago

Losing 240,000 and still able to sleep peacefully, this mentality is absolutely incredible --- Playing with 20x leverage for hedging, it's like betting you'll never make a mistake --- Is this whale a genius or a fool? We'll see when the liquidation happens --- Spending 50 million just to bet on the relative prices of BTC and ETH, that's crazy --- Losing 240,000 in floating loss isn't even the worst part; the real fear is a sudden rapid drop to zero --- Opening short positions on BTC and ETH simultaneously, this idea has some merit, but playing with 18x leverage is too extreme --- Another story of "I believe I can make it back," happening every day in the crypto world --- Oh wait, if this guy's strategy works, how long can he keep eating? --- Hedging 50 million with 50 million, it's like walking on a tightrope, just watching it makes me suffocate --- With such high interest rates, daring to play like this, truly a brave warrior --- At this floating loss rate, this whale might be betting on the market not dropping every day --- Shorting BTC with 20x leverage? Are they cursing the price of the coin?

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LiquiditySurfer

· 9h ago

Uh... 20x leverage hedging still results in a floating loss of 240,000. This isn't surfing, it's like the surfboard broke.

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MEVSandwichMaker

· 9h ago

A floating loss of 240,000 is nothing; I just want to know where this guy's stop-loss point is. --- Using 20x leverage to go all in—either become a god or get wiped out, there's no middle ground. --- Winning the bet means bragging for a lifetime; losing means losing all voice—this is the joy of leverage. --- Losing money now might not be a bad thing; the key is how deep his understanding of this round of the market is. --- Playing with 50 million dollars like this? Even my dad would be sweating for him. --- Alright, this move is indeed fierce, but there are even more aggressive self-destructive hedges in the crypto world every day—just waiting to see the fireworks. --- Using 20x leverage for hedging, in simple terms, is betting on your perception of the market rhythm. This guy probably has some inside information. --- A floating loss of 240,000 USD compared to this guy's overall position isn't really a big deal. --- Without hedging, he might have made a profit; with hedging, he might have been squeezed. Sometimes greed is the true key to making money.

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WalletManager

· 9h ago

Daring to play with 20x leverage, if the private key is not managed properly, it will be liquidated directly. This is gambler's mentality. A floating loss of 240,000 is nothing, but the key is that once the leverage ratio triggers the liquidation line, the game is over. This guy either has real confidence or is just really foolish.

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FlippedSignal

· 9h ago

Unrealized loss of 240,000 is just the beginning. Watch this leverage ratio, sooner or later it will liquidate. --- 20x short position paired with 18x long position. Is this guy trying to show off his skills or just gambling on luck? --- Fifty million just like that, really has money to burn. --- Crypto-to-crypto hedging is already a mystique, and adding maximum leverage... Oh my, this is a life gamble. --- Now with an unrealized loss of 240,000, I just want to see how he escapes the top. This is the real drama. --- I've seen this kind of operation before, generally with no good ending unless he really knows some insider info. --- A typical case of using complex operations to hide the fact that he has no idea what he's doing. --- High interest rates and still dare to go 20x? Either a secret weapon or just reckless. --- Just waiting to see if this whale is showing off or crashing. The next 24 hours will decide everything.

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