One Bitcoin-Focused Whale Builds First Cross-Asset Position in CXMT, Opening $3.53 Million Short Position

According to Hyperinsight monitoring, whale 0x004e, whose trading had been concentrated on BTC for the past three months, stepped out of the crypto market for the first time today and turned to ChangXin Memory Technologies CXMT. The whale began establishing CXMT short positions in batches around noon. As of press time, it holds 500,000 CXMT short contracts with 2x isolated margin, with a position value of approximately 3.533 million USD and an average entry price of 7.47 USD. As CXMT fell back to 7.0669 USD, this short position has an unrealized profit of approximately 204,900 USD, with a return rate of about 10.96%; the liquidation price is 13.58 USD, the address has allocated approximately 3.599 million USD margin to the isolated position, and there are currently no outstanding open orders. Regarding market conditions, CXMT is currently quoted at 7.06 USD, with a 24-hour gain remaining at 15.7%; converted at an USD to CNY rate of 6.7939, this corresponds to approximately 48.01 CNY. Historical transaction records show that this whale only traded BTC over the past three months; this is its first recent involvement in stock contracts, and it currently still holds 40x leveraged BTC short positions with a size of 6.6 million USD.