Yaduo's "Digital Gold" outperforms spot gold, with whales opening long positions on BTC to hedge against gold short-term unrealized losses

On March 2nd, according to Coinbob’s popular address monitoring, over the past hour, the 0x610 whale address has seen its precious metals short positions expand into unrealized losses, and the address has once again started to attempt to go long on BTC. The long positions opened within the past hour are the third attempt since the 28th, possibly as a short-term risk hedging strategy using “digital gold” to offset physical gold risks. The current position size is $2 million, with an average price of $66,200. Rewind three days. On February 26th at 10 PM, the third round of US-Iran Geneva talks began, with gold hovering around $5,200 per ounce. As global funds flooded into safe-haven assets, this address reversed and opened a short position on GOLD (gold-mapped contract). On February 28th, news of a US-Israel joint airstrike was released, causing gold to spike briefly, and the short position entered unrealized losses—on the same day, the address added to its gold short and opened a new SILVER (silver-mapped contract) short, continuing to bet on a decline in safe-haven assets. The next day, the address opened a BTC long position in the early morning.