Garrett Jin: Closes $21.5M of $147M Bitcoin Long

Garrett Jin (@GarrettBullish) has begun taking profit on his 1,868 BTC long valued at $147M, closing 276 BTC ($21.5M) for a $210K realized gain while retaining 1,592 BTC ($123.92M) with $1.18M in unrealized profit.

After holding the position over three months he has paid $1.94M in funding fees, leaving the trade in the red overall according to on-chain data from lookonchain.

Bitcoin trades at $77756.43 inside its 4-hour Bollinger Bands with the upper resistance at $79248.87 and lower support at $76602.79; the EMA50 at $77513.78 continues to act as immediate support above the EMA200 at $71973.42 while RSI at 48.93 remains neutral and MACD shows a bearish death cross at -270.53, suggesting price may test the 50-EMA before any sustained move toward the upper band.