Ethereum's Decline Expands Losses for Major Bitcoin Whale

Ethereum's recent drop below $3,100 has significantly increased the unrealized losses for a major Bitcoin whale, according to ChainCatcher. The whale, known as 'BTC OG Insider Whale,' now faces an unrealized loss of $16.85 million. Previously, the only remaining profitable position in Solana has also turned into a loss. The Bitcoin long position, leveraged at 5x, has an unrealized loss of $650,000. The Ethereum long position, also at 5x leverage, has an unrealized loss of $15.42 million. Meanwhile, the Solana long position, leveraged at 10x, has an unrealized loss of $780,000. The cumulative funding fee loss amounts to $7.92 million, with the total position value standing at $848 million.