BTC OG whale temporarily loses $16.85 million; why are these leveraged long positions still holding on?

【Blockchain Rhythm】According to on-chain monitoring data, the “BTC OG insider whale” is indeed having a tough time.

As Ethereum recently fell below the $2900 mark, this top whale’s account unrealized losses have expanded to $16.85 million. What’s more heartbreaking is that since adding to their ETH long position five days ago, this whale hasn’t made any further adjustments—completely exposing their position to market volatility.

Let’s take a look at the specific holdings data:

Long Position Status: BTC long (5x leverage) unrealized loss of $3.77 million; ETH long (5x leverage) unrealized loss of $60.24 million (this is the main position); SOL long (10x leverage) unrealized loss of $1.89 million.

Cost Consumption: Just from funding fees alone, they’ve lost $8.124 million, indicating a long holding period.

Account Size: The total value of current positions is still $797 million, which shows that even with such unrealized losses, this whale’s scale remains astonishing.

Interestingly, this steadfastness behind the hold may reflect two possibilities: either a firm belief in a market rebound or that there’s no room for adjustment under high leverage. However, for ordinary traders, such levels of position fluctuation data are indeed worth referencing—it often reveals the true thoughts of top market players.