Bitcoin OG Deposits $20M USDC on Hyperliquid as $83.4M in Unrealized Losses Mount

According to Onchain Lens data, the prominent on-chain trader Bitcoin OG has moved approximately 20 million USDC into Hyperliquid as collateral reinforcement amid the recent market selloff. The decision underscores the mounting pressure on large leveraged positions as unrealized losses continue to balloon.

Accumulated Losses Erode Previous Gains

The account’s overall unrealized loss has surged to approximately 83.4 million USD, marking a dramatic shift from its previous peak of around 142.5 million USD in accumulated profits. More significantly, the cumulative funding fee payments have reached roughly 8 million USD, representing a substantial drainage of capital through continuous financing charges. These mounting costs demonstrate the compounding nature of holding large perpetual positions during volatile market conditions.

Hyperliquid Position Management Under Pressure

With the fresh deposit, Bitcoin OG is actively managing liquidation risk across its major holdings. The strategy reflects the precarious balance required when maintaining such large exposures—one that requires constant capital replenishment to sustain. Current account profitability now stands at approximately 9.7 million USD, a fraction of the previous highs achieved.

Breakdown of Core Holdings on Hyperliquid

The account’s largest positions remain concentrated in three major assets:

• Ethereum (ETH): 223,340.65 tokens valued at approximately 632 million USD, representing the largest single exposure
• Bitcoin (BTC): 1,000 tokens with a current value around 86.99 million USD
• Solana (SOL): 511,612.85 tokens worth approximately 61 million USD

These combined holdings illustrate Bitcoin OG’s conviction in mainstream blockchain assets, though the magnitude also explains why even modest price movements can trigger substantial swings in unrealized profitability. The capital injection into Hyperliquid signals ongoing confidence in maintaining these positions while managing near-term liquidation threats that the recent downturn has created.