Whale address 0x50B30 has initiated significant trading positions, opening a short position of 798.73 BTC valued at $70.72 million with 20x leverage. Concurrently, the address has taken a long position in ETH, amounting to 5,626.42 ETH worth $16.71 million, using 18x leverage as a hedge. These trades currently face a combined floating loss of $240,000. Market participants are closely monitoring whether a stop loss strategy will be activated due to ongoing market fluctuations.