Bitcoin Whale “BTC OG” Closes $240M BTC Short, Secures $6.39M Profit as BTC Trades Near $108K
BTC/USDT
$17,366,629,629.18
$71,554.95 / $68,531.50
Change: $3,023.45 (4.41%)
-0.0023%
Shorts pay
Bitcoin market observers note a whale labeled BTC OG (address 0xb31) unwound a large short position, exceeding $100 million, at 23:00 yesterday, per CoinBob AI’s on-chain analytics. With BTC hovering near $108,000 at around 9:00 this morning, the entity fully closed the remaining $140 million short, locking in approximately $6.39 million of profit.
Separately, the associated address 0xc2a opened an 18x BTC short at 22:00 yesterday and continued to add to the position. By 3:00 this morning, the aggregate nominal short exposure rose to about $110 million. At 7:00, as prices dipped, the whale captured roughly $780,000 in gains. Presently, both addresses show no open positions, while the contract account retains about $80 million.
Market context: At 5:00 today, news of possible Biden sanctions on Russia contributed to a rally in international oil and gold, which in turn coincided with a brief dip in BTC, according to market analysis.