According to on-chain address monitoring data, the crypto market experienced significant position changes on January 8.
**Long positions under pressure, unrealized profits sharply reduced**
The renowned "BTC OG insider whale" account suffered heavy losses. This major holder, which once had unrealized profits as high as $27 million, now has total unrealized profits narrowed to $7.8 million, a reduction of over 70%. Among them, the BTC long position has fallen below the average cost of $91,500, currently in a floating loss state of $170,000, with no position adjustment made for now.
However, this account's performance on ETH is slightly better — the ETH long position maintains $4.8 million in unrealized profits, with an average cost of $3,147 per unit and a position size of approximately $660 million. The account's total current position size is around $806 million, still the top player in ETH, BTC, and SOL long positions on the Hyperliquid platform.
The situation with "CZ's counterparty" is worse. Its ETH long position has turned from profit to loss, currently in a floating loss of $1.08 million, with position size of $181 million and average price of $3,190. Additionally, it holds $84.4 million worth of XRP long positions, with floating losses of $4.62 million. Currently the largest XRP long holder on Hyperliquid and the second-largest ETH position holder.
**Shorts launch offensive, establish $800 million short positions**
Unlike the long positions, the "altcoin short convoy" is actively attacking. This account has for the first time established BTC short positions worth $8.2 million. The "ZEC largest short" also continued to adjust positions overnight.
Overall, the market is experiencing a rebalancing of long and short forces, and the movements of on-chain whales are worth closely monitoring.
According to on-chain address monitoring data, the crypto market experienced significant position changes on January 8.
**Long positions under pressure, unrealized profits sharply reduced**
The renowned "BTC OG insider whale" account suffered heavy losses. This major holder, which once had unrealized profits as high as $27 million, now has total unrealized profits narrowed to $7.8 million, a reduction of over 70%. Among them, the BTC long position has fallen below the average cost of $91,500, currently in a floating loss state of $170,000, with no position adjustment made for now.
However, this account's performance on ETH is slightly better — the ETH long position maintains $4.8 million in unrealized profits, with an average cost of $3,147 per unit and a position size of approximately $660 million. The account's total current position size is around $806 million, still the top player in ETH, BTC, and SOL long positions on the Hyperliquid platform.
The situation with "CZ's counterparty" is worse. Its ETH long position has turned from profit to loss, currently in a floating loss of $1.08 million, with position size of $181 million and average price of $3,190. Additionally, it holds $84.4 million worth of XRP long positions, with floating losses of $4.62 million. Currently the largest XRP long holder on Hyperliquid and the second-largest ETH position holder.
**Shorts launch offensive, establish $800 million short positions**
Unlike the long positions, the "altcoin short convoy" is actively attacking. This account has for the first time established BTC short positions worth $8.2 million. The "ZEC largest short" also continued to adjust positions overnight.
Overall, the market is experiencing a rebalancing of long and short forces, and the movements of on-chain whales are worth closely monitoring.