Bitcoin (BTC) long-term holder liquidates part of BTC short position…$2.39 million profit

JH Kim

Summary

An investor known as a Bitcoin (BTC) long-term holder reportedly realized $2.39 million in profits by liquidating part of a short position.
The investor is said to still hold a position of 1300 BTC, equivalent to approximately $100.415 million, even after liquidating part of a 10x leveraged short position.
On-chain data suggests exchange deposits are for profit-taking, but analysts say the impact on market structure is likely limited given the total holdings.

A whale investor known as a Bitcoin (BTC) long-term holder (OG) was reported to have realized $2.39 million in profits by liquidating part of a BTC short position.

On the 22nd (local time), according to on-chain data analysis platform OnChainLens, the investor liquidated part of a 10x leveraged short position and still maintains a position of 1300 BTC. This is equivalent to approximately $100.415 million.

On-chain data shows that immediately after the liquidation he transferred about 100.1 BTC to the Kraken exchange. Exchange deposits are generally interpreted as moves to sell or realize profits.

While the market views the long-term holder's position liquidation as a potential short-term adjustment signal, analysts say the impact on market structure is likely limited given the overall holding size.