BTC OG whale rebalancing latest movement: SOL leverage reduced from 20x to 10x, unrealized losses narrowed to $43.9 million

【Crypto Rhythm】A seasoned player in the crypto market with a holdings scale of $754 million has recently taken some action. This address, known as the “BTC OG Insider Whale” (0xb31), increased its position in SOL on December 26 after averaging down its long position, and has recently adjusted its leveraged positions—reducing a 20x leveraged SOL long to 10x.

This change is quite interesting. After adjusting the position, although the unit leverage decreased, the unrealized loss actually narrowed. Previously, at the peak, the unrealized loss reached $76.15 million, now it has narrowed to $43.9 million, a decline of nearly 42%. The account’s current margin size is $39.59 million.

Specifically, the main positions of this player are as follows: the 5x leveraged ETH long is the largest, with a holding of $601 million, an average cost of $3,147, but currently an unrealized loss of $38.7 million (a 32% loss), with a liquidation price of $2,131; the 5x leveraged BTC long holds $87.96 million, with an average price of $91,500, an unrealized loss of $3.52 million (a 20% loss); the newly adjusted 10x leveraged SOL long holds $64.67 million, with an average price of $135, and an unrealized loss of $1.91 million (a 29% loss).

Looking at this address’s trading record, from the evening of December 7 to the morning of the 8th, it began transferring funds gradually from mainstream exchange wallets to a major perpetual trading platform. After the first batch of $70 million was in place, it immediately opened a 5x leveraged ETH long. Subsequently, on the 10th, it added another $50 million, and on the 12th, it increased by $110 million, with a total injection of $230 million.

This “BTC OG Insider Whale” identity is also quite mysterious—having once held over 50,000 BTC, it remained dormant for 8 years, then gradually transferred some BTC to ETH. Interestingly, its trading rhythm has repeatedly been highly synchronized with international policy movements, attracting significant market attention. Just hours before the sharp decline on October 11, it positioned itself with a $500 million BTC short, ultimately making nearly $100 million in profit, sparking much discussion. According to a CEO of a certain exchange, this address is related to some of its platform users.