BTC OG giant whale has an unrealized loss of over 100 million in recent months, with ETH 5x long positions becoming the main source of losses

【CoinPush】According to on-chain address monitoring data, an OG whale holding over 50,000 BTC has recently attracted attention due to its activities. This address, which has been dormant for 8 years before reactivating, currently holds approximately $830 million in total assets and is the largest long position on ETH and SOL on the chain, but has recently experienced significant unrealized losses.

Specifically, the position details are as follows: the 5x leveraged ETH long position is the largest, amounting to $673 million with an average price of $3,161, currently with an unrealized loss of $3 million; the 5x leveraged BTC long position is $89.8 million with an average price of $91,500, with an unrealized loss of $1.47 million; the 10x leveraged SOL long position is $66.5 million with an average price of $130, with a small unrealized profit of $30,000. Overall, the long position unrealized losses have narrowed to $31 million, but weekly capital withdrawals reached $95 million. The funding rate settlement has resulted in a cumulative loss of $8.18 million, mainly from ETH positions.

It is noteworthy to observe this whale’s recent trading rhythm. Between December 7 and 8, the address successively transferred $70 million from a major exchange to Hyperliquid, then opened a 5x leveraged ETH long position. Subsequently, on the 10th, it added another $50 million, and on the 12th, transferred an additional $110 million, totaling $230 million transferred to the platform. The last rebalancing occurred on December 28, reducing the SOL long leverage from 20x to 10x, and no rebalancing has been made in the past 26 days.

This OG address’s historical operations often coincide with macro events. It previously positioned a $500 million BTC short just hours before the October 11 crash, ultimately making nearly $100 million profit, which drew widespread market attention. Afterwards, it gradually shifted some BTC into ETH, reflecting a continued bullish outlook on Ethereum. Industry insiders reveal that this address is associated with some well-known trading institutions.