Bitcoin BTC OG Whale Opens 10x Short on 700 BTC at $10.91k, Faces Over $900k Unrealized Loss, After Depositing $30M to Open BTC Long

According to HyperInsight, at 3:00 AM Beijing time a wallet labeled ‘BTC OG Whale’ (0xb31) opened a 700 BTC 10x short at an average price of $10.91k per BTC, now facing a total unrealized loss of over $900k on a roughly $77.27 million exposure in the Bitcoin market.

Around ten hours earlier, the same actor deposited $30 million into HyperLiquid and opened a BTC long. A separate address previously tied to the entity (0xc2a) still holds a 15x BTC long and a 5x ETH long, with an unrealized gain of about $3.66 million on a total exposure near $260 million.

Taken together, the positions illustrate ongoing risk management activity within the crypto derivatives market and highlight how large wallets can sway liquidity and funding dynamics in the space.

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