Bitcoin surges sharply, Garrett Jin’s unrealized profit exceeds $7.76 million, while Abraxas, the largest on-chain Bitcoin short position holder, sees its unrealized loss widening.

Machi(@machibigbrother) is up $7.15M in the past 24 hours! His account value is back above $10M! Current long positions: 30,950 $ETH ($84.79M) 279 $BTC ($23.72M) 89,000 $HYPE ($8.48M)

BTC breaks above $85,000; ETH breaks above $2,750! Trader 0x06bc had 5,867 $ETH ($16.13M) of his short liquidated. Trader 0xec0b's 122.88 $BTC ($10.16M) short was fully liquidated.

According to HTX market data, HYPE is currently trading at $95.8, notching another all-time high, with a gain of over 4% on the day.

According to HTX market data, Bitcoin has continued its upward rally, breaking through the $85,000 threshold and currently trading at $85,006, with a 24-hour gain of 5.03%.

According to TradingBeats monitoring, the largest BTC short seller on Hyperliquid—address 0xfc27, tagged as Polymarket user "VBVIT" on the platform—has been steadily adding to its short positions as BTC rises. As of press time, the address holds 1,320.73 BTC in short positions, valued at approximately $112 million, with 25x leverage and an average entry price of around $79,470.40. BTC is currently trading at roughly $84,547 at press time, putting the account’s BTC short position at an unrealized loss of about $6.7048 million. Its liquidation price is approximately $86,951.25, less than 3% above the current market price. Recent transaction records show the address added to its short positions when BTC was trading between $82,700 and $83,300. Additionally, the address holds around $76.46 million in ETH short positions, with an unrealized loss of roughly $4.44 million. Its total unrealized loss across 87 perpetual positions stands at approximately $13.84 million.

According to the latest statistics, crypto treasury firm Strategy currently holds 845,050 Bitcoin (BTC) at an average cost of $75,412. Following Bitcoin’s recent breakout above $85,000, Strategy’s BTC holdings have now generated an unrealized profit of $8.072 billion. During the ongoing bear market, Strategy’s Bitcoin positions once saw an unrealized loss of $10 billion.