BTC "OG whale" Garrett's 2x ZEC short shows $19.03M unrealized loss
AI Market Summary
On-chain data indicates a prominent "BTC OG whale" is carrying a large 2x leveraged ZEC short (~$33.6M notional) with a sizeable unrealized loss (~$19.0M) as price moved sharply against the position. The disclosure highlights potential forced-position management risk (covering/liquidations) that could add short-term volatility to ZEC. The same trader's leveraged BTC long is modestly profitable, signaling mixed positioning rather than broad market direction.
Impact level
● Low
Affected assets
ZEC/USDT+17.04%
AI Insight · ZEC/USDTAI Insight
● Neutral
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On Sept. 4 (UTC+8), on-chain data cited by ME News showed that the "BTC OG whale" Garrett is running a 2x leveraged short in ZEC valued at about $33.58 million. The position totals roughly 32,760 ZEC, with an average entry price near $444. With ZEC trading around $1,024.90, the position is down about $19.03 million on an unrealized basis.
The same data indicates Garrett also holds a 3x leveraged long in BTC worth roughly $108 million, currently showing an unrealized gain of about $5.38 million. (Source: ODAILY)
