"BTC OG Insider Whale" closes $107 million BTC long position, profiting $1.02 million, with ZEC short position floating a loss of $24 million

BlockBeats News, September 7 - According to EmberCN monitoring, "BTC OG insider whale" proxy Garrett Jin has just closed out BTC long positions worth approximately $107 million, totaling 1,331 BTC. The position was held for about 3.5 months, ultimately realizing a profit of roughly $1.02 million.

Currently, his account only holds a large ZEC short position, with approximately 39,760 ZEC, carrying a notional value of about $47 million, with floating losses already reaching approximately $24 million. Previous data showed that Garrett Jin's ZEC short position has been enduring massive unrealized losses.

Notably, earlier today, Garrett Jin added to his heavily loss-making ZEC short position, and subsequently closed out all his profitable BTC long positions. EmberCN joked about this, noting that such operations are quite similar to those of ordinary retail investors: quickly selling off winning positions while stubbornly holding onto losing ones and continuously adding margin.