A major trader makes a major strategic turnaround: new position changes in BTC, ETH, and SOL on Square

MevHunter · 2026-02-04T21:02:11+00:00

The essay discusses a notable cryptocurrency trader, "255 $BTC Sold," who reversed his strategy by closing short positions on Bitcoin, Ethereum, and Solana while heavily accumulating long positions in these assets. This shift indicates a significant change in market sentiment and highlights the importance of tracking major traders' movements for broader market trends.

MevHunter

2026-02-04 21:02:11

Abstract generation in progress

Onchain Lens shared an interesting observation regarding a notable cryptocurrency trader identified under the pseudonym “255 $BTC Sold.” The trader recently made a fundamental strategic shift by completely liquidating their short positions on the three main cryptocurrencies. This is a major turnaround that indicates a significant change in sentiment in their portfolio management. This event, shared on Square, illustrates how major market players can quickly readjust their strategies.

Closing Short Positions: A Decisive Turning Point

The trader closed all their short positions on Bitcoin, Ethereum, and Solana, marking a complete exit from their previous bearish strategy. This liquidation represents a significant transformation in their market approach. Abandoning the short position suggests a positive reassessment of these assets by this major participant in the cryptocurrency market.

New Long Positions: Massive Accumulation in BTC, ETH, and SOL

Alongside closing their shorts, the trader initiated substantial accumulation in long positions. They now hold 968.1 BTC, 67,425.6 ETH, and 527,399.75 SOL. In terms of value, this represents considerable exposure to the three largest cryptocurrencies in the market. This simultaneous accumulation in BTC, ETH, and SOL indicates a strong conviction in these major assets, reflecting a calculated diversification within the high-end market segment.

Additional Adjustment and Unrealized Gains

The trader also increased their short positions on Dash, accumulating 106,663 DASH. Despite this bearish position on Dash, these strategic moves have generated an unrealized profit of $7 million for this major participant. This result illustrates how a well-orchestrated strategic shift can create lucrative opportunities, even in a complex market environment.

This observation shared on Square demonstrates the importance of monitoring the movements of major traders, as their position adjustments can reflect broader market trends and serve as reference points for other participants.

BTC-16,75%

ETH-18%

SOL-23,65%

DASH-19,59%

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