Garrett Jin, founder of the collapsed Bitforex exchange, has expanded his leveraged Bitcoin long, adding 600 BTC at approximately $79,000 after Bitcoin briefly pulled back from above $80,000, according to on-chain analytics firm EmberCN.
The purchase brings Jin’s total long position to 1,868 BTC, worth roughly $147 million, with an average entry price of $77,090. The 3x leveraged cross long has moved back into profit, showing an unrealized gain of about $2.78 million to $2.9 million, after earlier facing an unrealized loss of up to $23 million in early July when Bitcoin traded below his average entry. The position’s liquidation price is reported at $44,455.
Jin also holds a 2x leveraged cross short on Zcash (ZEC), comprising 32,760 ZEC worth about $25.28 million, with an average entry of $444. That short is currently underwater by roughly $10.74 million to $11 million.
The activity draws additional scrutiny because Bitforex collapsed amid fraud allegations and regulatory actions. On-chain analysts at EmberCN and Lookonchain continue to track Jin’s trading book, and traders are watching whether the $44,455 level becomes critical for leveraged bulls.
