Whale “BitcoinOG” increases shorts by $227 million and transfers $587 million BTC to CEX

The Bitcoin whale known as BitcoinOG (1011short) is making waves once again. The latest on-chain data shows that this trader deposited over 5,252 BTC, or the equivalent of approximately $587.88 million. He is interested in major centralized exchanges such as Binance, Coinbase, and Hyperliquid. At the same time, he increased his short Bitcoin position in Hyperliquid to 2,100 BTC (worth $227.8 million).

Signs of active trading with large amounts of deposits

According to blockchain analytics platform Lookonchain, whales have been extremely active since the market crash on October 11th. Depositing such large amounts of BTC onto an exchange often indicates selling pressure or short-term trading activity. In this case, traders seem to have further strengthened their bearish stance. This move follows previous reports indicating that BitcoinOG has closed all previous shorts. He made about $197 million in profits between the two wallets. Immediately after these profits, he transferred $89 million USDC to Binance. Many analysts saw the move as a sign that he was preparing to open short positions again.

10x short and growing confidence

Recent data from Hyperdash reveals that BitcoinOG has deposited an additional $30 million in USDC. Join Hyperliquid to open a 10x leveraged short position with 700 BTC worth approximately $75.5 million. His overall short exposure has now grown to $226.9 million, with leverage of approximately 6.2x and margin utilization of 61.88%. Despite this aggressive stance, his portfolio still has a healthy return on equity (ROE) of 29.4%. There is an unrealized gain of more than $6.67 million. His liquidation price is nearly $123,275. This suggests that he remains in a safe position below current price levels for now.

Market reaction and speculation

Whale activity has attracted the attention of traders and analysts. Some have speculated that BitcoinOG’s large-scale movement may be affecting broader Bitcoin open interest, especially on Binance. In fact, the exchange’s open interest soared by $510 million after his earlier deposit. This suggests that major players may be following his lead or reacting to his strategy. But some warn that such concentrated short positions could lead to rapid liquidations if the market turns bullish. Given Bitcoin’s volatility, these trades can quickly flip if the price suddenly rebounds.

common patterns

This isn’t the first time BitcoinOG has made headlines for his bold stand. His trading patterns have resulted in millions of dollars in profits by closing huge short sales. Then re-enter the market with even greater influence. This has made him one of the most notable anonymous traders in the crypto industry. Bitcoin continues to hover in the six-digit range. This mysterious whale is once again in the spotlight. Does he foresee further correction or is he orchestrating a major market strategy? His latest moves are shaping the near-term narrative for the Bitcoin market.