[A Long-Term Hedge Arbitrage Address Turns Bearish, Total Short Position Reaches $34.9 Million] BlockBeats News, March 10: According to monitoring by Hyperinsight, the whale address starting with 0xcac has recently undergone a significant shift in its position structure. Previously, this address engaged in neutral arbitrage operations, earning funding rate spreads by selling BTC spot and closing short positions, or by buying spot and adding to short positions. Since BTC's price fell below $73,000, the address has started to unilaterally increase its short positions without hedging. Currently, it still holds approximately $11 million in ETH and BTC spot, while the total size of its short positions has expanded to $34.9 million. Its main positions are as follows: - 20x BTC Short: Position size of $15.7 million, average price of $89,900, unrealized profit of $4.3 million (548%), funding rate settlement recorded $1.76 million. - 10x HYPE Short: Position size of $11.8 million, average price of $33.6, unrealized loss of $450,000 (-38%), funding rate settlement recorded $350,000. - 20x ETH Short: Position size of $7.04 million, average price of $4,011, unrealized profit of $6.64 million (1886%), funding rate settlement recorded $1.35 million.