Andrew Kang-linked address closes over $25 million in BTC short positions, with a floating return rate exceeding 160%

According to ChainCatcher, as monitored by HyperInsight, in the past 8 hours, the address (0x0b5) associated with Mechanism Capital co-founder Andrew Kang closed 230 BTC short positions for profit, reducing holdings by approximately $25.32 million, and 4 hours ago increased ENA long positions by over $1.5 million as a hedge.

According to further monitoring, this address opened a new 40x leveraged BTC short position at $113,200 at 1 a.m., with a position size of about $29.9 million. Currently, there is still a $4.16 million short position, with a floating return rate of over 160%. Meanwhile, the 25x leveraged ETH long position was closed at the high of $4,008 and switched to short, with a current floating return rate of over 100%.