Strategy Counterparty Locks In Full Gains on $39.5M Brent Long, Adds to Leveraged BTC Short

HuoXing Finance reported that on April 7, Hyperinsight data showed the wallet dubbed "Strategy Counterparty" (0x94d) fully exited the BRENTOIL long leg of its $80 million "long crude, short BTC" strategy after Brent rebounded above $110. The Brent position carried $39.5 million in notional value and was built at an average entry of $100.80, generating a realized profit of $3.71 million. Following the close, the address redeployed part of the freed margin to scale up its BTC short using 40x leverage. The BTC short now totals $49.92 million at an average price of $69,137, showing an unrealized gain of $4.2 million, or 34%. The hedge was initiated on April 1, when BTC briefly moved above $69,000 as both WTI and Brent slipped below $100. The latest adjustment suggests the trader sees limited further upside in crude, shifting from a geopolitical-risk thesis toward a more straightforward bearish view on crypto.