Whale Big Move: Short Gold with 5x leverage while also positioning in US stock futures

2026-01-13 07:52:12

【Chain Wen】There is an interesting whale address that has recently caused quite a stir on the chain. This “on-chain stock investor” (0xfc66) suddenly shifted tactics, starting to aggressively add to short positions in PAXG (on-chain gold), with 5x leverage, and has now become the largest short player in PAXG. Not only that, they have also opened 18 stock short positions on Hyperliquid, with positions in major stocks like Oracle (ORCL), Palantir (PLTR), and Amazon (AMZN) being particularly large.

Interestingly, this address has been active in the crypto market before, mainly trading contracts with 20x leverage—shorting ETH, BTC, and SOL. But starting from January 8, they began to reduce these short positions, shrinking from a scale of $45.6 million down to $17.6 million. Clearly, they are adjusting their strategy.

What is their current layout? About $4 million in stock futures positions, with the total account holdings now swelling to $53.2 million. This guy is really testing cross-chain and cross-asset hedging operations, moving from pure crypto to traditional stock derivatives, with increasingly complex strategies.

PAXG-0,77%

ETH1,82%

BTC1,69%

SOL0,04%

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NFTHoarder

· 01-13 08:22

This whale is really daring to play, shorting gold with 5x leverage. I'm sweating just thinking about it. Wait, from 20x contracts to shorting stocks? Is he planning to cash out or just changing tactics to gamble? Is this guy looking down on US stocks or what? He dares to short ORCL, PLTR, AMZ—his guts are incredible. Shorting gold— is he betting on the Fed's rate cut falling flat? That's interesting. From 45.6 million down to 17.6 million— is this stop-loss or pre-accumulation? Feels a bit suspicious. This guy is so ruthless with his moves. I just want to know how he views the market going forward— is he genuinely bearish or just betting on volatility? Eighteen short positions on Hyperliquid— if that's not gambling, what is? A risk fanatic. If gold rebounds this time, will he get liquidated? Leverage really is deadly. Suddenly shifting from contracts to stocks and futures— it seems this whale is changing his mindset, but the risk... Gotta say, this kind of operation is either genius or crazy— either making a killing or getting wiped out, no middle ground.

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WalletAnxietyPatient

· 01-13 08:21

This whale is really ruthless, switching directly from 20x leverage to a short position on gold. 5x isn't enough, right? Switching from crypto to stock futures—are they betting on an economic recession? That's bold. PAXG's biggest short? This guy is betting on a crash in gold prices. Is gold finished? With 18 short positions laid out, ORCL, AMZN, and PLTR are all on the hunting list. What are they doing? The position was cut from 45.6 million to 17.6 million. It seems confidence on the crypto side is also waning, everyone is retreating. Is this move smart or just gambler's psychology? Let's wait and see the day of the reverse operation.

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SandwichTrader

· 01-13 08:11

This whale really can't stay idle. Switching from 20x leverage contracts to short gold and US stocks—are they trying to switch tracks to harvest? Wait, PAXG 5x leverage short? Can gold really be shorted to the point of exhaustion? They really have guts. 20x➡5x, is this reducing risk or saving energy? Maybe this guy is laying an ambush. Reducing the position to 17.6 million, yet opening 18 stock shorts—are they betting on a decline in US stocks? Or just changing strategies to keep it interesting? ORCL, PLTR, AMZN are all big players. Shorting these three at the same time—are they daring to bet on a US stock crash? Recently, on-chain whales' moves are a bit interesting, feeling like they are betting on some major event.

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DataOnlooker

· 01-13 08:11

Another gambler, but this time betting on gold and tech stocks, haha. This guy jumped from 20x contracts directly into stock futures, really not taking the risk seriously. A 5x PAXG short plus 18 stock positions, is this a full gamble or does he see through something? Decreased crypto shorts and increased gold positions, logically it makes sense but somehow it feels off. Is he betting on US stocks to fall? Or on gold prices to pull back? Anyway, I can't understand this move. Whales are smart, but this kind of aggressive play will eventually backfire.

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MerkleTreeHugger

· 01-13 08:04

Bro, is this whale planning to go all-in on shorting the world... reducing leverage from 20x to 5x and still opening gold short positions? That change in mindset is a bit sudden. I really don't understand, I truly don't understand, why would they want to make gold and US stocks fall at the same time? How is the risk premium calculated? A 5x leveraged PAXG short sounds so exciting... If it rebounds by 10%, it might be liquidated immediately. Switching from crypto contracts to traditional financial futures, is this guy really trying to test his judgment or just gambling? Oracle, PLTR, and Amazon all shorted? How bearish must you be on US stocks to dare to lay out like this... Will keep an eye on the follow-up.

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LightningPacketLoss

· 01-13 08:00

Wait a minute, this guy went from 20x to 5x? Is he really being cautious or holding a big move in reserve... With such a large short position, it seems he's really bearish on gold and US stocks, there's something to it. But the biggest short on PAXG... the risk must be high too. What if gold surges dramatically? This shift from crypto to stocks and futures feels like they've seen some signal. ORCL, AMZN, PLTR all coming in, isn't this betting on a complete collapse of the US stock market?

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