1 Bitcoin Whale devotee opens $3.53 million short position on CXMT

July 27th, according to Hyperinsight Monitor data, the whale 0x004e, whose transactions have been concentrated in BTC for over three months, took its first step out of the crypto market today, shifting its focus to Changxin Technology (CXMT).

The whale began to gradually establish a short position in CXMT at noon. As of the time of writing, it holds 500,000 CXMT short positions with 2x leverage, with a position value of approximately $3.533 million and an average entry price of $7.47.

As CXMT dropped to $7.0669, the short position has a floating profit of approximately $204,900, a return rate of about 10.96%; the liquidation price is $13.58. The address has allocated approximately $3.599 million as collateral to the isolated margin position, with no outstanding orders at the moment.

Data shows that CXMT is currently trading at $7.06 on Hyperliquid, with a 24-hour price increase of 15.7%; converted at a rate of $6.7939 to Chinese Yuan, it is approximately ¥48.01.

Historical trading records show that the whale has only traded BTC in the past three months, and this is its recent first foray into stock contracts. It still holds a 40x leveraged BTC short position, with a scale of $6.6 million.