BTC old whale with 5x leverage suffers heavy losses: paid $5.55 million in funding fees, ETH position with unrealized loss exceeding $10 million

HashBard · 2026-01-10T02:40:13+00:00

A veteran Bitcoin whale recently suffered a heavy blow in the market. Since mid-December 2025, he has been maintaining his positions, having spent $5.55 million, paying $4.615 million for ETH long positions, and currently facing an unrealized loss of $12.09 million. Although he once had an unrealized profit of $27 million, he chose not to reduce his holdings, ultimately incurring an unrealized loss of $9 million again, with only a $3 million unrealized profit from SOL long positions providing some support.

HashBard

2026-01-10 02:40:13

Abstract generation in progress

【BlockBeats】A well-known Bitcoin whale has recently been taking a heavy hit in the market. According to on-chain monitoring data, this “BTC insider whale” has been struggling with his positions since mid-December 2025. As of today, he has already spent $5.55 million in funding fees just to maintain these positions — that’s no small amount.

What’s even more heartbreaking is that this guy is also using 5x leverage to hold a dead-long ETH position, with a scale of $627 million. Just to maintain this ETH long, he has paid $4.615 million in funding fees, and is currently floating at a loss of $12.09 million. It seems he’s really starting to struggle.

But there’s more drama to this story. Do you remember December 19th? That address was nearly $80 million in the red, teetering on the brink of life and death. Then, on January 4th, the market rebounded a bit, and he actually saw a floating profit of $27 million, seeming to have a chance to turn things around. But the key point is, he didn’t reduce any of his positions. Now, he’s back to an overall floating loss of $9 million. Fortunately, his SOL long position is still providing him with some blood flow, with a floating profit of $3 million — a bit of warmth in the cold.

Such behavior is not uncommon in the market — knowing you’re in profit but refusing to exit, only to be eventually beaten back. But for whales of this scale, they might just be willing to gamble on a big move.

BTC0,36%

ETH-0,85%

SOL-0,28%

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