The whale continued to spend 8.8 million USDC to buy 132 WBTC and began to reduce its short position on the GMX platform:

This whale who sold 9600 ETH at $1811 on November 1, 2023, bought 146.8 $WBTC ($9.15M) and 29.5 million $OX ($0.48M) on the chain in the last 4 days:
• Spend 9.15 million USDC to buy 146.8 WBTC, with an average price of $62,329;
• Spend 140 ETH ($0.48M) to buy 29.5 million OX, with an average price of $0.016.

But the strange thing is that while buying WBTC, he shorted BTC and ETH on the GMX platform. Is it for hedging? :
• Shorted $20.5M worth of BTC at a price of $61,601 with 5.12x leverage, with a liquidation price of $72,953;
• Shorted $7.61M worth of ETH at a price of $3,430 with 5.39x leverage, with a liquidation price of $4,029.

Address: 0x8af700ba841f30e0a3fcb0ee4c4a9d223e1efa05