"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, and floating losses have already reached 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. Yu Chui (Ember) joked that this operation is quite similar to that of ordinary investors: selling off winning positions quickly while stubbornly holding onto losing ones and continuously adding margin.