The nearly two-month-old Bitcoin position, opened in May, is showing an unrealized loss of more than $18.55 million while the liquidation price stands at $16,964.
Garrett Jin, identified as the “10·11 insider whale,” is still holding a 1,270 BTC 5x leveraged long position. The trade was opened in May this year at $76,117 and has been held for nearly two months. Current data shows the position is sitting on an unrealized loss of more than $18.55 million, backed by margin of $15.6 million, with the liquidation price temporarily reported at $16,964. Leveraged long positions use borrowed funds to amplify exposure to Bitcoin, which can magnify both losses and gains and leave traders vulnerable to forced closure if prices fall far enough.