Andrew Kang Rebalances Portfolio with Expanded Short Positions in BTC and ETH

MevTears · 2026-01-28T12:03:28+00:00

Trader Andrew Kang restructured his portfolio by closing a unprofitable long HYPE position and taking profits on ENA, leading to a $67.79 million net short position in BTC and ETH, reflecting a bearish market outlook amid ongoing volatility.

MevTears

2026-01-28 12:03:28

Abstract generation in progress

According to PANews reporting from late October, trader Andrew Kang made significant adjustments to his portfolio through a series of strategic trades. The moves reveal a notable shift in his market positioning, with the trader taking decisive action on multiple fronts to realign his investment exposure.

Strategic Exit from HYPE Long, Profit-Taking on ENA

The rebalancing began with Andrew Kang closing out his long HYPE position at a loss of $123,000, signaling a shift in conviction on that particular asset. This move was accompanied by a more favorable trade—reducing his long ENA holdings, which generated a substantial profit of $1.615 million. These closures freed up capital while crystallizing gains from his ENA exposure, reflecting disciplined portfolio management.

Doubling Down on Bearish Bets

The more aggressive component of Andrew Kang’s repositioning involved significantly expanding his short exposure to major cryptocurrencies. His short BTC position expanded to 362.49 units, representing approximately $39.97 million in notional value based on October prices. Simultaneously, he increased his short ETH holdings to 6,995.72 units, amounting to roughly $27.81 million. These moves underscore a pronounced bearish outlook on both Bitcoin and Ethereum during that period.

Current Portfolio Status and Market Implications

Following these adjustments, Andrew Kang’s overall portfolio reflected a net short bias. His combined short position stood at $67.79 million, while long exposure totaled $29.2 million, creating an asymmetric risk profile heavily weighted toward downside positions. The portfolio adjustments resulted in a modest floating loss of $605,000 on the day, suggesting the short positions had not yet moved significantly in his favor at the time of the trades. This positioning underscores how even experienced traders like Andrew Kang must navigate inherent volatility when recalibrating their market exposure.

For context, Bitcoin currently trades around $89.69K and Ethereum near $3.03K as of January 2026, highlighting the dynamic nature of cryptocurrency markets and the importance of active portfolio management.

BTC-6,67%

ETH-7,94%

HYPE-12,44%

ENA-8,4%

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