COINOTAG News reports that on September 8, on-chain analytics firm LookIntoChain observed wallet 0xa523 flip from a long exposure to a short position on ETH after realizing losses in excess of $35 million, followed by an incremental $614,000 decline. The monitored address currently carries a short exposure equivalent to 1,351 BTC, with an estimated notional value near $150 million.
The transaction-level data, corroborated by on-chain monitoring, quantifies a material reallocation of risk by this whale. Market participants tracking funding rates and open interest may use these verified metrics from LookIntoChain and COINOTAG News to assess derivative market positioning without inferring causation beyond the recorded positions and realized losses.