A long-time Bitcoin holder is currently down roughly $56 million in unrealized losses after heavy leveraged long positions across Bitcoin, Ethereum and Solana moved sharply against him amid continued market volatility.
Key Takeaways:
- A well-known Bitcoin OG is holding about $674 million in leveraged long positions across BTC, ETH, and SOL, currently with a total of $54 million unrealized loss.
- As of writing (8:15AM UTC), BTC trades near $86,000, ETH around $2,930, and SOL at approximately $126, showing a broader market decline in the last 24 hours.
- Analysts say the episode highlights growing risks tied to leveraged crypto investment strategies as volatility and liquidation pressure remain elevated.
Onchain data tracked by Onchain Lens shows that a prominent early Bitcoin investor is currently underwater on a massive set of leveraged long positions tied to major cryptocurrency assets. According to the data, the trader’s open exposure totals roughly $674 million, spread across Bitcoin, Ethereum and Solana.
The positions include a long on approximately 1,000 BTC entered near the $91,500 level, a sizable Ethereum position of roughly 190,900 ETH with an average entry close to $3,167, and a Solana long involving around 250,000 SOL opened near $137. With all three assets now trading below those entry prices, the trader’s unrealized losses have climbed to around $54 million.
Bitcoin OG currently faces -$56M total PnL on their BTC,ETH, and SOL long positions. Source: Hyperbot
Bitcoin, Ethereum and Solana Still Down as Volatility Persists
As of 8:15AM UTC, the broader crypto market is still red including major tokens. Bitcoin (BTC) is trading at approximately $86,073.88, down 4.1% in the last 24 hours, falling from its intraday high around $90,000 down to intraday lows near $85,400. Ethereum (ETH) trades around $2,925.22, showing a noticeable drop of 6.8% in the day with intraday range of around $2,900 to $3,170. On the other hand, Solana (SOL) sits at $126.13, down 4.8% in the last 24 hours while ranging $124.08 to $134.26 in the day.
Technical indicators across major assets point to elevated volatility and reduced risk appetite, even as some traders look for signs of stabilization following recent sell-offs.
Analysts Warn of Leverage Risks Amid Shifting Market Sentiment
Some analysts note that Bitcoin’s relative strength index has moved closer to historically oversold territory, which can precede short-term relief rallies. However, they caution that oversold conditions alone are not enough to sustain a rebound without stronger spot demand and confirmation above key resistance levels.
Others point out that macro uncertainty and uneven risk sentiment continue to weigh on digital assets, limiting upside momentum and encouraging traders to reduce leverage rather than increase exposure.
Liquidation Risks Intensify Amid Market Uncertainty
The Bitcoin OG’s unrealized losses highlight the broader fragility in leveraged crypto positions. Even modest price declines can trigger forced liquidations, amplifying volatility across crypto exchanges. Recent sessions have already seen hundreds of millions in liquidations, prompting caution among traders. Until Bitcoin holds key support near $90,000 and Ethereum above $3,000, leveraged longs remain exposed to further pressure.
Outlook
The unfolding losses faced by one of Bitcoin’s early adopters highlight the risks of aggressive leverage during uncertain market phases. In the near term, traders will be watching whether Bitcoin can maintain support near $90,000 and whether Ethereum can stay above the $3,000 level.
A sustained recovery could ease pressure on leveraged longs, but further downside may accelerate deleveraging across the market. For now, the episode serves as a cautionary signal that even experienced players are not immune to volatility in today’s crypto investment landscape.
Summary
A prominent early Bitcoin investor is down roughly $54–56M in unrealized losses after $674M of leveraged long positions across BTC, ETH and SOL moved against him amid elevated market volatility; analysts warn leverage increases liquidation risk.
