Bitcoin News Update: Eni Remains Steady While Bitcoin Drops: Kang Faces Criticism for Risky Hedging Approach

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Bitcoin News Update: Eni Remains Steady While Bitcoin Drops: Kang Faces Criticism for Risky Hedging Approach

Bitget-RWA2025/10/27 04:26

By:Bitget-RWA

- Trader Andrew Kang boosts Eni long position to hedge volatility amid energy firm's 1.8B€ buyback expansion after strong Q3 results. - Kang's BTC short, opened pre-Trump tariffs, down 50% as Bitcoin rebounds to $108k from $104k post-crash lows. - Position faces liquidation at $123k, highlighting crypto risks amid geopolitical tensions and exchange technical issues. - Kang's dual strategy contrasts Eni's operational resilience with crypto market turbulence, exposing macroeconomic interdependencies.

Andrew Kang, a well-known trader, has recently increased his long exposure to Eni SpA (ENI.MI) as a temporary measure to offset market swings, based on the latest trading data. This adjustment comes as the Italian energy company revealed it will raise its 2025 share repurchase plan by 20% to 1.8 billion euros, following third-quarter earnings that surpassed forecasts, according to

a Reuters report

. Eni posted an adjusted net profit of 1.25 billion euros, beating analyst projections and demonstrating resilience in a volatile energy sector. Kang’s move to allocate more to Eni seems intended to balance his positions between stocks and cryptocurrencies, both of which have reacted strongly to recent macroeconomic developments.

At the same time, Kang’s

Bitcoin

short, initiated just before President Donald Trump’s October 10 declaration of an extra 100% tariff on Chinese imports, has incurred heavy losses. The trade, which started at $234 million, has now dropped by more than half as Bitcoin (BTC) rebounded to $108,202 from a post-crash bottom of $104,000, as

CoinDesk

reported. The sharp decline on October 10, which saw

BTC

fall from $122,000 to $104,000, was set off by Trump’s tariff hike and China’s restrictions on rare earth exports, with additional volatility caused by technical problems at Binance, according to

. Kang’s short position, executed on the decentralized exchange Hyperliquid, has a liquidation threshold at $123,000, so any further rise in BTC could trigger a margin call.

Bitcoin News Update: Eni Remains Steady While Bitcoin Drops: Kang Faces Criticism for Risky Hedging Approach image 0

Despite Bitcoin’s rebound, Kang’s bearish stance signals ongoing doubts about the cryptocurrency’s short-term prospects. Blockchain analytics provider Arkham observed that Kang opened his short position just half an hour before Trump’s tariff news, a timing that has raised questions about its significance. Although the market has since calmed, the outcome of the short trade highlights the difficulty of forecasting crypto prices amid ongoing geopolitical and regulatory shifts.

Kang’s approach—using Eni as a hedge while holding a sizable short on BTC—illustrates the intricate relationship between global economic trends and investor sentiment in 2025. Eni’s strong quarterly performance and expanded buyback initiative may help cushion Kang against further crypto market swings. Nevertheless, his Bitcoin short remains highly volatile, with its current 50% loss exemplifying the dangers of betting against a leveraged asset in an unpredictable environment.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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