BTC OG Insider Whale Holds Position for 20 Days, Now Close to Breaking Even

A prominent crypto whale known as the BTC OG Insider Whale has held long positions in Bitcoin, Ethereum, and Solana for 20 days, with recent market movements pushing it toward break-even status. The whale's total unrealized losses have dropped to $6.11 million, indicating some recovery in the value of its holdings according to LookOnChain data.

The whale holds a 5x long position in Ethereum with an unrealized loss of $5.73 million and a 5x Bitcoin long with a $1.4 million loss. In contrast, its 10x Solana long position shows a $1.02 million gain, contributing to the narrowing of total losses as reported by LookOnChain.

The whale's overall long exposure remains substantial, with a combined notional value of $754 million, as of December 29. This includes $6.01 billion in ETH, $87.96 million in BTC, and $64.67 million in SOL. The whale's leverage and risk exposure remain under close scrutiny by market observers according to Coinotag.

Why Did the Loss Narrow?

The reduction in floating losses is attributed to the recent rebound in Bitcoin and Ethereum prices. Over the past three weeks, BTC has traded between $85,500 and $90,000, while ETH has shown signs of recovery after a sharp drop earlier in the year according to FXStreet analysis.

Market analysts suggest that the whale's decision to hold positions for over 20 days reflects a strategy to weather short-term volatility while aligning with longer-term bullish expectations for the crypto market as reported by Coinotag.

The whale's actions also align with broader market dynamics, including the continued use of leverage and margin-based positioning. These tactics are common among large institutional players seeking to optimize returns in a highly volatile market as previously reported by Coinotag.

How Did Markets React?

The broader Bitcoin market has remained under pressure in the fourth quarter of 2025. U.S.-listed spot BTC ETFs recorded a record outflow of $4.57 billion in November and December, indicating a decline in institutional demand according to CoinDesk.

This outflow coincided with a 20% drop in Bitcoin's price during the same period. Ethereum ETFs also saw over $2 billion in outflows, while Solana ETFs attracted $500 million in inflows, showing a mixed response to market conditions as reported by CoinDesk.

Despite these outflows, the New York Fed's year-end liquidity measures helped stabilize market sentiment. Record amounts were loaned via the Standing Repo Facility and reverse repos, reducing funding stress and supporting risk-on sentiment according to FXStreet analysis.

What Are Analysts Watching Next?

Analysts are closely monitoring the whale's leverage adjustments and potential margin requirements. As of December 29, the whale's overall margin requirement was $39.59 million, with ETH and BTC accounting for the majority of the exposure as reported by Coinotag.

Investors are also watching for further deposits into major exchanges like Binance, which could signal increased liquidity positioning or risk reallocation. On December 30, the whale deposited 112,894 ETH—worth $332 million—into Binance, signaling active management of its portfolio as reported by Coinotag.

Given the whale's history of large-scale transactions, any further movement could influence market sentiment and liquidity across major crypto pairs. Analysts recommend tracking order book depth and exchange inflows for signs of increased market activity as reported by Coinotag.

The broader market is also waiting on fourth-quarter results from companies like Strategy Inc., which is expected to report a multibillion-dollar loss due to the decline in Bitcoin's price. This outcome reflects the risks inherent in a leveraged Bitcoin investment model according to Bloomberg.