According to Coinbob's tracking report on January 30, the market downturn has pushed the 'BTC OG insider whale' into deeper losses, with unrealized losses exceeding $103 million. The whale's total holdings have dropped to $680 million. Additionally, cumulative funding fee losses reached $8.8 million. All profits made from shorting during the October 11 crash — nearly $100 million — have now been completely erased.
Detailed Position Breakdown
- 5x ETH Long: $584M position value, average price at $3,149, unrealized loss of $87M (-74%), liquidation price at $2,291;
- 10x SOL Long: $58.95M position value, average price at $130, unrealized loss of $7.65M (-130%);
- 5x BTC Long: $47.2M position value, average price at $91,500, unrealized loss of $5.19M (-55%);
Beyond derivatives, this whale has been actively rolling positions on AAVE with address 0xcA0, accumulating ETH spot holdings. Currently holding 148,000 ETH worth $433 million, the whale faces unrealized losses of approximately $34.6 million at an average cost of around $3,050. Complex on-chain maneuvers have set its liquidation zone between $2,300 and $2,450.
Background and Market Influence
The 'BTC OG insider whale' first gained attention by holding over 50,000 BTC for eight years before becoming active again. The account gradually converted BTC into ETH, demonstrating remarkable market timing. Notably, its trading patterns closely aligned with Trump's rhetoric and U.S. policy developments. Before the October 11 crash, it strategically placed $500 million in BTC short positions hours before the market plunge, generating nearly $100 million in profits — an event that drew significant market attention. Former BitForex CEO Garrett Jin once hinted at a potential connection between the address and his clients.