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Bitcoin OG faces $12.5M unrealized loss on $617M long position
Source: CryptoNewsNet Original Title: Bitcoin OG faces $12.5M unrealized loss on $617M long position Original Link: https://cryptonews.net/news/bitcoin/32129508/
Overview
A prominent Bitcoin investor currently faces an unrealized loss of $12.5 million on a $617 million long position. The investor’s portfolio includes large holdings in Ethereum, Bitcoin, and Solana.
Current Position Details
An early Bitcoin investor, widely referred to as Bitcoin OG 1011, is currently sitting on an unrealized loss of more than $12.5 million from a $617 million long position spread across several crypto assets.
Due to the recent market drop, the investor with a massive $617M long position is currently experiencing a floating loss of over $12.5M.
Current holdings:
Market Context
Earlier today, the trader opened a $491 million long position in Ethereum, along with additional longs in Bitcoin and Solana. The aggressive positioning has fueled speculation about insider insights or looming market trends.
Bitcoin dipped below $90,000 on Friday, down from $92,500 earlier in the day. At press time, it was trading at $89,600.
Ethereum dropped 4% to $3,000 over the past 24 hours, while Solana also declined, though with modest volatility.