Mechanism Capital Co-Founder Adjusts Cryptocurrency Positions

According to BlockBeats On-chain Detection, Mechanism Capital's co-founder Andrew Kang has recently made significant adjustments to his cryptocurrency positions. Over the past eight hours, Kang's associated address closed a short position on Bitcoin, reducing his holdings by approximately $25.32 million. Additionally, four hours ago, he increased his long position in ENA by over $1.5 million as a hedge. Further monitoring reveals that earlier today, at 1 a.m. UTC+8, Kang opened a new 40x leveraged short position on Bitcoin at $113,200, with a position size of about $29.9 million. Currently, there remains a $4.16 million short position, with a floating return rate exceeding 160%. Concurrently, his 25x leveraged long position on Ethereum was closed at a high of $4,008, switching to a short position, now showing a floating return rate of over 100%.