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Recently, I saw on Lookonchain that a crypto whale seems to be having a tough day. Their short position in xyz:CL worth $7.8 million was forced to close at a loss of more than $1.55 million. Ouch, that's quite significant.
But what's interesting is that this whale didn't give up immediately. They opened a new short position in xyz:CL worth $6.48 million, as if trying to recover from the previous loss. An aggressive strategy, or maybe they have a strong thesis about the future direction of crude oil.
Even more surprisingly, the same whale also holds the largest on-chain long position in xyz:XYZ100 with 1,601 units worth $38.52 million. So their strategy is quite diversified—short in crude oil but bullish on the Nasdaq 100 index. Interesting position management from this whale.