If Bitcoin drops below $85,000, the mainstream CEX long liquidation pressure will reach $1.106 billion

January 26 – Per data from the Coinbob Popular Address Monitor (https://t.me/Coinbob_track_CN), the “BTC OG Insider Whale” (wallet address 0xb31) deposited roughly $20 million in collateral to decentralized exchange Hyperliquid earlier today, with the funds unused as of press time. ### Current Key Metrics - Unrealized losses on long positions have widened to $80 million; - Weekly fund withdrawals total $120 million; - Funding fee settlements have incurred $8.1 million in losses (mostly tied to its ETH long); - Total position size sits at ~$785 million, making it the largest on-chain long holder for both ETH and SOL. ### Core Long Positions | Asset | Leverage | Position Size | Avg Entry | Unrealized Loss | Liquidation Price | |-------|----------|---------------|-----------|-----------------|-------------------| | ETH | 5x | $6.34B | $3,161 | $71.5M (-56%) | $2,192 | | BTC | 5x | $87M | $91,500 | $4.4M (-25%) | N/A

On-chain analyst Ai Auntie (@ai_9684xtpa) reported on January 26 that a prominent ETH whale—who had shifted from holding ETH for 4 years to WBTC earlier this year—has now converted WBTC back to WETH. - **January 3**: Swapped 14,145.93 WETH for 492.16 WBTC (valued at $44.195 million) at an ETH/BTC exchange rate of 0.03479. - **January 26**: Converted 578.66 WBTC back to 17,706.74 WETH (valued at $50.33 million) at an ETH/BTC rate of 0.03268. This move boosted his ETH balance by 6.45%. Currently, he holds 17,707 WETH and 195.49 WBTC on-chain, with a combined value of $67.38 million.

January 26 — Per monitoring by HyperInsight (via its Telegram channel at https://t.me/HyperInsight), over the past hour, the "20 Million Band Hunter" (address 0x880a) has been continuously buying HYPE spot while shorting HYPE for hedging, posting an account floating profit of $14.72 million. This address is linked to a trader with an aggressive style, skilled in high-leverage short-term trades, and has accumulated total profits of $114 million across their full trading cycle.

On January 26, Mike McGlone—Senior Commodity Strategist at Bloomberg Intelligence—stated that Ethereum appears to be moving toward the lower end of its $2,000-$4,000 range since 2023. “I see the risk of it dropping below $2,000 as higher than the chance it reclaims $4,000, especially now that stock market volatility is picking back up,” he noted.

January 26 — Per a report from the Hong Kong Economic Times, Hong Kong virtual bank Mox Bank has obtained regulatory approval to upgrade to a Type 1 license, allowing it to offer virtual asset trading services to customers through a comprehensive account. Currently, only Bitcoin and Ethereum trades against the U.S. dollar are supported. Mox Bank’s virtual asset trading platform partner is HashKey Exchange, with HashKey Custody acting as the custodian for customers’ virtual assets. Trading fees are tiered across four membership levels: Basic members (the lowest tier) pay a 1.25% commission, while Elite members (the highest tier) pay 0.5%.