On January 27, according to HyperInsight monitoring, the "Strategy counterparty"short 7,347 ETH with 15x leverage, equivalent to approximately $21.37 million, with an average entry price of $2,910.9. Currently, it is showing a small unrealized profit.
This address began building its position in December of last year, with an initial account size of approximately $20 million. It subsequently gradually increased its short positions in major cryptocurrencies such as BTC and ETH. Because its trading strategy was contrary to that of MicroStrategy, a publicly traded company that continuously purchased BTC, this address was considered by the market to be its clear "on-chain counterparty." It frequently opened positions in opposite directions multiple times, with positions reaching hundreds of millions of dollars.
