Largest cluster of net long Bitcoin positions enters at $78,057

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 an...