Garrett Jin Closes BTC Long Position and Retains Large ZEC Short Amid Losses

On September 7, Garrett Jin, acting for the “BTC OG insider whale,” closed a BTC long position worth about $107 million, totaling 1,331 BTC. According to BlockBeats On-chain Detection, the position had been held for about three and a half months and ultimately generated a profit of about $1.02 million. His account now holds only a large ZEC short position, with about 39,760 ZEC remaining. The notional value is about $47 million, and the unrealized loss has reached about $24 million. Earlier data showed that Jin’s ZEC short had been under heavy unrealized losses for some time. Jin also added to the losing ZEC short earlier in the day before fully closing the profitable BTC long position. EmberCN commented that the trading pattern resembles that of ordinary investors, who often sell winning positions quickly while holding losing positions and continuing to add to them.