The “BTC OG whale” associated with Garrett Jin has recently been exposed again with an extremely wild trading history.$BTC $ETH $ZEC

On-chain data shows that between May and June 2018, this entity accumulated a total of 100,784 BTC purchases, with an average cost of only about $7,242. In the same period last year, the value of this batch of BTC once exceeded $10 billion, and later, large amounts of capital were reinvested after selling BTC.

But what’s truly worth paying attention to is the past year.
Starting in August 2025, it gradually sold about 89,000 BTC, while buying about 900,000 ETH; afterward, it also opened ETH long positions on Hyperliquid. In February 2026, when ETH fell from around $3,000 to $1,800, this roughly 213,000 ETH long position was liquidated. According to on-chain data, the margin loss was about $230 million. In addition, positions related to Trend Research also saw losses of around $734 million.

This year in March, the entity also lost about $50 million due to one extreme slippage during an exchange; since July, it has been shorting ZEC, and its unrealized loss has at one point reached about $34 million.

Personal take: What ordinary investors should reflect on most isn’t how much the whale profited, but the fact that even the largest principal can’t eliminate the risks brought by high leverage and wrong positioning.

Early on, the BTC cost basis was extremely low, which did provide a huge capital safety buffer for this entity. But as the capital size grows larger, what ultimately determines the outcome is instead position management, leverage, and trading cadence.


So don’t be superstitious about “whale addresses.” Seeing a whale buy doesn’t necessarily mean prices will rise; seeing a whale short doesn’t necessarily mean prices will fall.
What you should really look at is its position changes, sources of funds, leverage levels, and whether it can continuously turn its judgments into profits.#华夏基金完成港元稳定币投资用例 #比特币突破8万美元大关 #日本央行加息至31年高位