The "Strategy Counterparty" (0x94d) has closed its long position in Brent crude oil, securing a profit of $3.71 million. This move follows a rebound in Brent oil prices above $110, as reported by Hyperinsight. The initial position, part of an $80 million strategy, was established at an average price of $100.80. Following the closure of the crude oil position, the counterparty has increased its short position in Bitcoin, utilizing 40x leverage. The total BTC short position now stands at $49.92 million, with an average entry price of $69,137, yielding an unrealized profit of $4.2 million. This strategic shift reflects a bearish outlook on the cryptocurrency market.