A major whale's 49 million position betting on HYPE underperforming BTC, losing $700k on both sides of the portfolio during the pullback

MarsBitNews · 2026-03-19T08:14:28+00:00

Mars Finance reports that a whale recently went long BTC with $29.4 million while simultaneously shorting HYPE with $19.7 million. However, the market downturn resulted in two-way losses of approximately $700,000. A similar strategy had previously generated profits of $37.1 million.

MarsBitNews

2026-03-19 08:14:28

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Mars Finance News, March 19 — According to Coinbob’s popular address monitoring, the “Long BTC, Resistant to Altcoin Decline” whale (0x939) has recently increased its BTC/HYPE hedge position again: going long BTC with a $29.4 million position at an average price of $70,562; while shorting HYPE with a $19.7 million position at an average price of $39. However, today’s market declined briefly, causing BTC to fall temporarily. Although HYPE also declined simultaneously, it remained above $40, with a significantly smaller pullback than BTC. This movement put pressure on both ends of the hedge, with longs suffering losses that were not fully offset by shorts, resulting in a total dual-sided loss of about $700,000. Previously, this address had reduced its position using a similar strategy, going long BTC with approximately $50 million while shorting ETH, XRP, ADA, and five other tokens. That strategy was successful, and the overall profit for the entire cycle remained around $37.1 million.

HYPE-7,23%

BTC-2,59%

ETH-3,7%

XRP-1,91%

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