Bitcoin Long Position by Crypto Whale Garrett Jin Sets Record

A massive long position in Bitcoin has been opened by crypto whale Garrett Jin, with 1,330 BTC bought at an average entry price of $78,057 on September 18. This trade valued at approximately $107 million is now a focal point for market analysts, who are calling it the largest cluster of net long notional recorded at that price level.

At the time of the trade, Bitcoin's spot price was around $80,843, resulting in an unrealized profit of about $3.05 million for Jin. The positioning is significant because 96% of total net long notional sits below the current spot price, meaning the overwhelming majority of bullish bets are currently profitable.

Jin has a documented history of making large, calculated moves in the Bitcoin market, and analysts believe he could potentially scale up to 2,450 BTC. This would push the total position value well beyond $190 million at current prices.