15 hours ago
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Someone just placed a nine-figure bet that Bitcoin is heading higher. Crypto whale Garrett Jin opened a long position of 1,330 BTC at an average entry price of $78,057, a trade valued at approximately $107 million, all within a four-hour window on September 18.
Bitcoin’s spot price quickly moved in his favor, climbing to roughly $80,843 shortly after US equity markets opened. That translates to about $3.05 million in unrealized profits, and a position that now sits at the center of what analysts are calling the largest cluster of net long notional recorded at that price level.
The position and what it signals
Only about 4% of total net long notional was established above the recent spot price. In plain terms, nearly everyone betting on Bitcoin going up entered their positions below where it’s currently trading. That’s a market with very little overhead resistance from existing long holders who might want to sell into strength.
Jin’s entry at $78,057 represents a level where an outsized concentration of bullish capital now sits. If Bitcoin were to retrace toward that zone, it would test the conviction of the market’s largest long cluster. If it holds, $78K becomes a psychological and structural floor. If it breaks, a lot of leveraged money gets uncomfortable very quickly.
The 1,330 BTC position wasn’t assembled casually. Executing a trade of that size in four hours requires either deep liquidity access or a willingness to absorb significant slippage. Jin appears to have done this primarily through Hyperliquid, a platform where he’s known for operating with substantial leveraged positions.
Market analysts tracking Jin’s wallet activity suggest he could potentially scale up to 2,450 BTC, which would push the total position value well beyond $190 million at current prices.
A pattern of strategic positioning
Jin has a documented history of making large, calculated moves in the Bitcoin market. Earlier in September 2026, he trimmed a $147 million long BTC position, a partial exit that, in retrospect, looks like profit-taking ahead of a planned re-entry at lower levels.
On-chain analysts have tracked a consistent pattern: Jin builds sizable positions, takes partial profits near resistance levels, then rebuilds when conditions align for another push higher. The September 18 entry at $78,057 fits that template perfectly, a re-accumulation after a strategic trim.
Technical backdrop supports the thesis
Jin’s timing wasn’t purely based on gut instinct. Bitcoin’s rally past $80,000 coincided with several technical indicators flashing bullish, including an overbought RSI reading and a golden cross on the MACD. The overbought RSI might seem like a warning sign in isolation, but when paired with a MACD golden cross, which occurs when a shorter-term moving average crosses above a longer-term one, it often signals sustained momentum rather than an imminent reversal.
What to watch from here
The $78,057 level is now the most important price point on Bitcoin’s chart for a reason that has nothing to do with Fibonacci retracements or moving averages. It’s where the market’s biggest concentrated long bet lives. A retest of that level would reveal whether the current rally has genuine structural support or whether it’s built on a single whale’s conviction.
The fact that 96% of net long notional sits below the current spot price is genuinely notable. It means the overwhelming majority of bullish bets are currently profitable. Profitable traders tend to hold. Unprofitable traders tend to panic. Right now, the longs are comfortable, and comfort breeds patience rather than selling pressure.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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