BTC OG Insider Whale faces $49.5M unrealized loss on $680M leveraged crypto positions

Address 0xb31, known as the "BTC OG Insider Whale," holds an unrealized loss of about $49.5M on roughly $680M in leveraged positions with $48.36M in remaining margin as of December 16, Coinbob popular address monitoring cited by BlockBeats shows. The main positions include a 5x ETH long worth $564M at an average entry of $3,167 with $39.81M in unrealized losses and a liquidation price at $2,078, a 5x BTC long of $85.96M at $91,500 with $5.46M in losses, and a 20x SOL long of $31.52M at $137 with $2.81M in losses. The address transferred $70M from a Binance wallet to Hyperliquid between the night of December 7 and the morning of December 8 to open the ETH long at an earlier average of $3,048, then added $50M on December 10 and $110M on December 12. The address previously held over 50,000 BTC dormant for eight years before rotating some into ETH and drew attention by placing a $500M BTC short hours before the October 11 drop, reportedly earning nearly $100M, while BitForex CEO Garrett Jin said the address is related to one of its clients.