A significant smart money address has converted its Bitcoin short to a long and established a $3.61 million Ethereum long position, indicating a strategic market shift.
On August 1, a notable smart money address shifted its Bitcoin position from short to long and established a $3.61 million long position in Ethereum. This address had previously converted its ETH long to a short on July 30, realizing nearly $36 million in profits on Hyperliquid.