This storage whale is going long on BTC! Around 17:31 today, storage whale 0x0ad9…4cbf suddenly opened a long position with 31 BTC. Previously, we tracked this smart money heavily invested in MAmericaNDK and SKHX, with unrealized losses once expanding to $3.6067 million. But they didn’t just hold on stubbornly. Between July 21–24, as the sector rebounded, they closed out these three positions, ultimately realizing a total profit of $123,500. What’s really interesting is: not long after closing out, they’re back again. Over the past two days, this smart money has repurchased three AI storage stocks, with a current total position exposure of approximately $11.47 million: - SNDK: $5.4596 million - SKHX: $3.0553 million - MU: $2.9574 million And this time, the cost of building these positions has dropped compared to the previous round by approximately: - SNDK: 34% - SKHX: 23% - MU: 16% This isn’t just a simple case of “buying the dip.” Instead, after completing a round of unwinding and inventory reset, they’ve rebuilt positions in the same theme at lower valuations. The context is also crucial: Korean stocks have been hit by historic sell-offs, with crowded AI trades, financing concerns, and leveraged liquidations all erupting simultaneously. Storage stocks like SK Hynix have become the core outlet for risk-off moves. However, the industry itself hasn’t collapsed in sync: Micron is still achieving record growth and pushing HBM4 shipments, while AI servers continue to squeeze capacity with demand for HBM and server DRAM. The issue is that weak consumer demand and buyer resistance to high prices mean “long-term shortages” don’t necessarily translate to unconditional stock price increases. So what this whale is truly betting on is that the current price drop has already outpaced the underlying fundamentals’ deterioration. What’s even more subtle is that this evening, they opened a 31.02 BTC long position near $64,477 with 2x leverage, a nominal value of $2 million. And the timing is quite coincidental, right before the Fed decision and Waller’s speech. Currently, BTC only accounts for about 15% of their total holdings, making this more like adding a layer of “liquidity beta” to their storage rebound portfolio: - If global risk appetite recovers, BTC often reflects capital inflows faster than fundamental data. - But if deleveraging continues, all four long positions could quickly turn into a single highly correlated risk exposure. Additionally, the risk in their positions shouldn’t be overlooked: this address has a win rate of 83.33%, but its 30-day return is -27.14%. The current account leverage is 13.41x, with a margin utilization rate of 99.68%, leaving almost no room for error. High win rates but losing money suggests they excel at frequently locking in small profits but are still vulnerable to losing large amounts from a few heavy positions gone wrong. So, the real signal from this new position is: betting on a rebound window, not a confirmed trend reversal. Direct link to the address: https://www.(aicoin.com)/zh-Hans/hyper-detail/0x0ad9e656d9e6211d0ea1c5462342e1fc94cc4cbf Micron SK Hynix BTC