Ethereum Dips to $3,175 and Rebounds as BTC OG Insider Whale Holds a $383M ETH Long With a $2,235 Liquidation Price
BTC/USDT
$23,298,561,101.23
$66,025.52 / $63,030.00
Change: $2,995.52 (4.75%)
-0.0012%
Shorts pay
COINOTAG, citing Coinbob Popular Address Monitor on December 11, notes the ETH price briefly dipping near $3,175 before rebounding. The BTC OG Insider Whale address (0xb31) carried a substantial ETH long—roughly $383 million—with an average entry near $3,177, a liquidation price of $2,235, and an intraday unrealized gain of about $25.3 million at 4:00 AM.
Transfers show a $70 million move from a Binance wallet to Hyperliquid between Dec 7–8, followed by opening a 5x leveraged ETH long at about $3,048, and a further $50 million added the next day, highlighting meaningful on-chain liquidity shifts and reinforced ETH exposure.
Historically, the address, an OG BTC holder with thousands of BTC, has rotated into ETH. Ahead of the 10.11 crash, it reportedly built a large BTC short near $500 million, generating notable gains; BitForex CEO Garrett Jin links the address to certain clients.