Bitcoin OG Transferred After Earning 197 Million Dollars to Binance

Recently, the fluctuations in the cryptocurrency markets have drawn investors' attention back to leading assets like Bitcoin and Ethereum. The well-known investor known as "Bitcoin OG" made a strategic move by closing all short positions after realizing a profit of 197 million dollars. This investor's trading history stands out for its accurate predictions of market trends.

The on-chain analysis platform Lookonchain reported that the "Bitcoin OG" account earned over 160 million dollars with short positions opened for both Bitcoin (BTC) and Ethereum (ETH) by anticipating last week's crash. The investor closed all Bitcoin short positions on Hyperliquid, achieving a total profit of 197 million dollars. However, shortly after this move, a transfer occurred that caught the market's attention.

Within a short time, the investor transferred 89 million dollars worth of USDC to the Binance platform. Following this transfer, the open interest in Bitcoin futures on Binance increased by approximately 510 million dollars, leading to speculation that the investor might open short positions again. The same account had opened 3,440 BTC (approximately 392.6 million dollars) in short positions the previous week, setting the liquidation level at 128,030 dollars.

On-chain analysts note that this investor is known for their ability to predict market directions and attracts the attention of other traders with their significant transactions. Market participants believe that the funds moved by "Bitcoin OG" to Binance may be a preparation for a potential Bitcoin drop. However, some analysts suggest that this move could also be interpreted as a repositioning after the profits were realized.