Prominent crypto trader Garrett Jin made a rapid pair of high-profile Bitcoin moves on September 22, 2026, first flipping from a long position to a leveraged short and then closing that entire short within hours. According to data highlighted by on-chain monitoring platform Lookonchain, Jin initially realized an $8.38 million profit on his previous long position before opening a 3x short position on 500 BTC valued at $43.23 million.
The initial short entry attracted attention as Bitcoin was testing the $64,000 to $65,000 range, a pivotal zone where sellers had repeatedly defended resistance and buyers were attempting to regain momentum. Jin’s substantial bearish position was seen by some traders as a signal that sentiment could be shifting, adding to volatility around those price levels.
However, the follow-up report from Lookonchain showed that Jin later closed the entire 500 BTC short position at the same $43.23 million notional value, realizing a much smaller profit of $81,700. The rapid exit, coming after an $8.38 million long profit, underscores the mixed signals and fast-changing sentiment in Bitcoin’s current market environment.
Market participants are now watching whether Bitcoin can break above the $65,000 psychological resistance or if it will face a deeper pullback toward $64,000 support. Bitcoin showed no significant price change reported and trading volume remained cautious as traders awaited clearer signals. The trading community continues to monitor large whale positioning, as swift moves by prominent traders like Garrett Jin can influence short-term market sentiment and volatility.
