On January 26, the market experienced another wave of volatility. Bitcoin dropped to $86,000, and Ethereum fell below $2,800. During this downturn, a major trader, often referred to as the 'BTC OG insider whale,' suffered significant losses, with unrealized losses totaling $84.28 million.
Breakdown of Massive Losses
According to Hyperinsight's monitoring, multiple positions held by this trader were severely impacted:
- BTC long (5x leverage): $4.78 million loss
- ETH long (5x leverage): $73.82 million loss
- SOL long (10x leverage): $5.68 million loss
In addition, the cumulative funding fee loss for this address reached $8.15 million, and the total value of the current positions stands at $779 million. Notably, no rebalancing actions have been taken by this trader, causing widespread market concern.
Market Observations
This substantial loss has drawn widespread attention from investors and triggered a noticeable cooling in market sentiment. Experts warn that high-leverage strategies carry significant risks during periods of extreme volatility, advising retail investors to proceed with caution.