BTC "OG 内幕巨鲸" Cuts Bitcoin Holdings From 88,000 to 37,000 Coins; ETH Longs Reach $217M on Hyperliquid

The wallet dubbed "BTC OG 内幕巨鲸" (address (0xb31)) now holds about $217 million in ETH longs with $3.45 million unrealized profit (8%) and a $3,068 average entry after a 2,000 ETH limit buy near $3,120 around 11:00 on December 9. Its position totals 7,000 ETH on Hyperliquid; since the first order the trader logged six winning and one losing derivatives trade: $30 million ETH longs on August 21; a combined $110 million BTC and ETH short on October 11 via two addresses; a $30 million BTC short on October 20; a $20 million BTC long on November 4; a $10 million ETH long on November 25; a $3 million ETH short on November 29; and a $70 million ETH long opened on December 7 that remains in profit. BTC holdings were cut from 88,000 to 37,000 coins since August (about $5.1 billion in net disposals at a $100,000 BTC price) while on-chain holdings remain roughly $5.7 billion, including around $3.32 billion in BTC and $1.83 billion in ETH; notable flows included rotating BTC into ETH between August and October, sending 2,000 BTC to Coinbase on October 16, 3,000 BTC to Binance on October 21, 1,900 BTC to Kraken from October 22 to November 2, and borrowing over 220 million USDT against ETH and sending it to Binance on December 1. Arkham links the address to an eight-year-dormant BTC OG that once held more than 50,000 BTC, notes several trades coincided with statements by Donald Trump and U.S. policy moves, and cites roughly $100 million profit from a $500 million BTC short opened hours before the October 11 price drop; the address is connected to one of BitForex's clients, per Coinbob and Arkham data and BitForex CEO Garrett Jin.