- •A Bitcoin OG has increased his short to 3,600 BTC.
- •His position faces a $3.66M unrealized loss.
- •Liquidation price is set at $139,900.
A well-known Bitcoin OG (original gangster or early adopter) has doubled down on a massive bearish bet, increasing his short position to a staggering 3,600 BTC, currently valued at $438 million. This risky move comes as Bitcoin continues to trade within a volatile range, testing the patience—and capital—of both bulls and bears.
Despite the massive scale of this trade, the OG is currently sitting on an unrealized loss of $3.66 million. While unrealized losses don’t always spell disaster, they reflect the pressure mounting on the position if market trends don’t shift in his favor.
Liquidation Looms at $139.9K
What raises eyebrows is the liquidation level for this short: $139,900. Given that Bitcoin is far from reaching that level, the OG may have some breathing room. However, in a market where rapid price surges are common, even deep‑pocketed traders aren’t immune to sudden liquidations.
This strategy suggests extreme confidence in a bearish outlook—or a hedge against other long holdings. Still, the unrealized loss and market conditions mean the situation could flip quickly if Bitcoin gains bullish momentum.
The Bitcoin OG has increased his short position to 3,600 $BTC($438M) — currently sitting on a $3.66M unrealized loss.
— Lookonchain (@lookonchain) October 10, 2025
Liquidation price: $139,900https://t.co/01e3RC8jG2pic.twitter.com/LrUfbzdf0p
A High-Risk Play in a Volatile Market
Such large short positions are rare and often signal significant market sentiment from high‑net‑worth individuals. But they also carry immense risk. A bounce in Bitcoin’s price could amplify the losses, forcing the trader to either add more collateral or close the position at a loss.
Crypto traders and analysts are now watching closely to see if this massive short signals an incoming market shift or ends up as a cautionary tale.

