BitcoinOG deposits $332M in ETH on Binance as whale flips long on 2026 outlook

A Whale identified as BitcoinOG has just deposited 112,894 ETH on Binance today, valued at approximately $332 million. BitcoinOG surfaced in August with approximately $11 billion worth of Bitcoin. The whale opened almost $900 million in short positions across BTC and ETH.

Lookonchain data tracked an address belonging to the Whale, showing a series of transactions made during the Christmas week. This is not the first time the whale has made such transactions. The Whale had deposited 100,000 ETH valued at approximately $292 million on December 24th. 

BitcoinOG faces roughly $48 million floating loss in unrealized gains

The Whale has now cashed out $332 million and opened a series of longs signaling a potential market upside in 2026. Based on on-chain data, BitcoinOG has opened $749 million worth of long positions in BTC, ETH, and SOL.

ETH holds the largest position, with approximately $598 million, and a liquidation price of $2,143. It is followed by roughly $87 million in BTC and $63 million in SOL. BitcoinOG has so far incurred a loss of approximately $48 million in unrealized gains across all its positions. 

BitcoinOG came to light when it correctly predicted the October $19 billion market crash. Based on Onchain Lens, the Whale opened a 5,000 BTC short position with a 6X leverage and later changed to 8X leverage.

The entry price was $120,761, with a liquidation price of $133,760 on October 10. The October crash resulted in the crypto market losing approximately $19 million, driving the BTC price below $100,000 for the first time this year.

Based on on-chain analysis, the Whale has been routing funds across BTC and ETH as a short-term strategy to take on market rallies. For instance, on August 21, BitcoinOG sold $5 billion worth of BTC to ETH. The transaction involved a series of deposits, including $2.59 billion sold for a $2.2 billion spot ETH and a $577 million Ether perpetual long position. The Whale’s activity triggered a series of purchases on-chain within that day, traders cumulatively acquiring $456 million worth of ETH. 

The Whale briefly surpassed Sharplink, which is currently second in ETH holdings, valued at $2.57 billion in August. Ethereum-focused public firms, which hold roughly 6.81 million ETH valued at $20.31 billion, have Bitmine leading with approximately 67% of the share. Bitmine holds 4.07 million ETH valued at $12.12 billion, representing approximately 3.36% of the total ETH supply.  

BTC Whales buy into the dip across the $80-$90K range 

According to a recent Cryptopolitan report, Bitcoin Whales are buying into the current dip, with BTC pricing around $88,000. Bitcoin Whales represent addresses holding between 1000 and 10000 BTC. The report noted that most whales are buying into the dip while small investors are selling. The report cited the Whale’s Accumulation Trend Score, a metric that tracks whether investors are buying or selling crypto assets over the past 15 days, which is close to 1. 

Glassnode analytics data indicates a score of nearly 1, which signifies accumulation rather than distribution, as the score typically approaches 0. The analysis suggests that whales are strategically accumulating BTC in the range of $ 80,000 to $ 90,000. The current BTC dip resembles the one experienced in April, when BTC dropped to an all-time low for 2025, approximately $76K, before it rose to its all-time high of $126K in October. 

The Bitcoin price has maintained a moderate change today, showing only a 0.1% change over the past 24 hours. At the time of publication, BTC was trading at $87,812, with a market cap of $1.75 trillion. ETH  was trading at $2,973 at the time of publication. 

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