BTC OG Insider Whale Long Position Floating Profit Exceeds $60 Million

On-chain data shows significant shifts in the positions of key Bitcoin and Ethereum whales. The 'BTC OG Insider Whale' now holds a $795 million long portfolio, but its BTC position is underwater with $2 million in unrealized losses. In contrast, its Solana long position shows a floating profit of $5.04 million.

The whale's average entry price of $130 in Solana and a total exposure of $71.6 million in that asset highlight its strategic focus. Ethereum remains a key holding, with the whale maintaining the largest on-chain ETH position. However, the second-largest ETH whale has seen its unrealized loss widen to $14.2 million.

The 'Strategy Nemesis' BTC whale has also added to its position, now holding $310 million in BTC longs after entering near $90,600. This whale is now the second-largest on-chain BTC long holder, behind the 'BTC OG Insider Whale'.

Grayscale's Ethereum Trust (ETHE) recorded a $3.9 million inflow on January 13, 2026, according to Farside Investors. This marks a positive shift for Ethereum, which has seen previous periods of outflows. The inflow may indicate growing institutional confidence in Ethereum ETFs.

Why Did This Happen?

The 'BTC OG Insider Whale' has seen a recent shift in profitability as Bitcoin prices have retreated. Despite the BTC position being unprofitable, the whale has managed to gain from its Solana and Ethereum holdings. On-chain activity suggests a strategic allocation, with large positions in multiple assets.

Bitcoin whales sold $286 million in BTC in January 2026, according to Capriole Investments. This marks the largest spike in whale selling since early November 2025. However, data suggests that this selling activity is more strategic than panic-driven.

How Did Markets React?

Market reactions to these whale movements have been mixed. While BTC has seen selling pressure, Ethereum has benefited from ETF inflows. Grayscale's ETHE recorded a $3.9 million inflow, suggesting institutional interest in Ethereum-based assets.

Polygon (POL) has also seen positive movements, with the token up 5% as of January 14. This comes after the project announced a $250 million acquisition of Coinme and Sequence to expand its stablecoin payment infrastructure.

Grayscale has filed with the SEC to enable options trading on its CoinDesk Crypto 5 ETF (GDLC), which tracks BTC, ETH, XRP, SOL, and ADA. If approved, this would be one of the first multi-asset crypto ETFs in the U.S. to offer options trading.

What Are Analysts Watching Next?

Analysts are closely watching Bitcoin's ability to absorb whale selling. According to Glassnode, long-term holder distribution has slowed, suggesting that much of the overhead supply may have already been worked through.

Bitcoin's 5-day MACD has turned bullish, a pattern seen near the bottom of the 2022 bear market. This indicator has historically signaled significant price rallies. However, traders caution that short-term pullbacks remain likely.

Polygon's price action is also under scrutiny. The token has broken through key resistance levels, with a potential move toward $0.2855 if it holds above $0.1639. On-chain data shows increasing whale interest in POL.

Bitcoin's next move may hinge on its ability to hold above $89,000. A strong rebound from this level could indicate filled passive bids and open the door to a $100,000 test. Failure to do so increases the risk of a deeper pullback toward $86,000.