Lookonchain reports a surprising move from the trader known as #BitcoinOG (1011short). Despite the large unrealized losses, the whale added another 12,406 ETH to its long positions. This decision increases exposure at a time when markets remain volatile. The move indicates conviction rather than caution. The trader chooses to average down rather than reduce risk.
Current positions show huge market exposure
The wallet now has an exceptionally large portfolio of top crypto assets. Current positions include 203,341 ETH worth around $577.5 million, 1,000 BTC valued around $87 million, and 250,000 SOL worth around $30.7 million. The combined exposure is approaching $695 million. This level of concentration highlights both trust and vulnerability in a leveraged environment.
The figures show a sharp change in performance. The wallet now sits more than $70 million below its peak. At the beginning of 2025, the same management recorded more than $120 million in profits. Today, remaining profits are below $30 million. The rapid decline illustrates how quickly leverage can erase profits, even for highly skilled traders.
Switching from profitable short positions to risky long positions
This trader gained a reputation at the beginning of the year thanks to his successful short positions. These operations generated significant profits during market crises. Since the beginning of December, the strategy changed course. Instead, the wallet began building aggressive long positions. The trader repeatedly added size during dips, using 5x to 20x leverage on Hyperliquid. This change marks a high-risk bet on a significant upward reversal.
Data suggests that margin utilization now sits close to 85%, leaving limited margin for error. Liquidation prices remain dangerously close, with ETH liquidation reportedly approaching $2,133. An additional 20-30% bearish move could lead to forced closures. While deep capital reserves offer temporary protection, leverage magnifies risk more quickly than spot exposure.
Whale behavior often influences sentiment. This aggressive positioning sends a strong signal of long-term bullish belief in ETH, BTC, and SOL. At the same time, it serves as a cautionary example. Conviction does not eliminate the risk of falls. The markets remain unpredictable and even legendary traders face serious drawdowns.
The post Legendary Bitcoin OG Doubles as Huge Long Positions Sink Deeper into the Red appeared first on Coinmania.
