Garrett Jin Takes $21.5M Profit from Bitcoin Long Position

Garrett Jin has been taking profit from his Bitcoin long position, closing $21.5M worth of BTC after holding it for over three months.

The position, valued at $147M when initiated, consists of 1,868 BTC. By selling 276 BTC, Jin has realized a gain of $210K and retained 1,592 BTC with an unrealized profit of $123.92M.

However, according to on-chain data from lookonchain, the trade remains in the red overall due to the $1.94M in funding fees paid by Jin.

The current market price of Bitcoin is $77,756.43, trading within its 4-hour Bollinger Bands with upper resistance at $79,248.87 and lower support at $76,602.79.