The BTC Whale Who Bought the Dip on October 11th is Still Holding Strong, Facing a 12x Unrealized Loss Compared to Initial Investment

May 18: Per monitoring from Hyperinsight (via Telegram channel @HyperInsight), address 0x860 has emerged as the largest underwater whale holding BTC long positions on Hyperliquid. This whale entered a BTC long position at the bottom 220 days ago — specifically on October 11 last year — following the market crash, with 29x leverage, at an average entry price of $109,632, and a total position size of $13.2 million. Initially, this long position generated substantial unrealized gains for the whale within 10 days. However, after BTC dropped below its average entry price on October 30 last year, the position never returned to break-even. As of press time, the whale still hasn’t closed the position and remains holding on, with the current unrealized loss standing at $3.94 million — roughly 12 times the initial investment. Estimates show that given the address’s multimillion-dollar total fund size, the $13.2 million position translates to an actual leverage ratio of about 1.1x. But the unrealized loss has already eroded approximately 30% of its total funds. Address: 0x8607a7d180de23645db594d90621d837749408d5