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A Bitcoin-focused whale opened a $3.53 million short position in CXMT, marking its first cross-asset position move.

1 hours ago

According to Hyperinsight monitoring, whale address 0x004e—who had traded only Bitcoin (BTC) for over three months—has for the first time stepped outside the crypto space to target Changxin Technology (CXMT). The whale began building CXMT short positions in batches at noon; as of press time, it holds 500,000 CXMT short contracts with 2x isolated margin, with a position value of roughly $3.533 million and an average entry price of $7.47. As CXMT has fallen to $7.0669, the short position has generated an unrealized profit of about $204,900, a return of ~10.96%; its liquidation price stands at $13.58, and the address has allocated ~$3.599 million in margin to the isolated position, with no outstanding pending orders currently. Data shows CXMT is trading at $7.06 on Hyperliquid, with a 24-hour gain of 15.7%; converted at a USD/CNY exchange rate of 6.7939, this equals approximately 48.01 yuan. Historical trading records show the whale traded only BTC over the past three months, marking its first recent entry into stock futures. It still holds a 40x leveraged BTC short position worth $6.6 million.

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