Damn! Bitcoin drops below $87,000, Ethereum loses $2900, Brother Ma's long positions are further affected, and Bitcoin OG whale incurs a loss of $56 million.

The crypto market faces significant selling pressure again tonight (26th)! Bitcoin price drops below the $87,000 mark, currently at $86,785, down approximately 1.2% in the past 24 hours. Ethereum also weakens, falling below $2,900, with a 24-hour decline of 1.8%.

Bitcoin trend. Source: OKX

Notably, according to HyperInsight monitoring, the Ethereum long position held by well-known crypto investor “Brother Maji” Huang Licheng has experienced significant unrealized losses during this dip. The address was long 8,100 ETH with 25x leverage, entry price around $2,972.52, liquidation price at $2,870.73. The current unrealized loss exceeds $500,000.

Additionally, a trader known in the market as the “Bitcoin OG Whale” has seen their long positions’ losses further expand, with total unrealized losses now exceeding $56 million, and approximately $3 million paid in funding fees. Their investment positions are as follows:

• Long $500 million worth of ETH, entry price $3,147, unrealized loss $48.98 million;
• Long $86.99 million worth of BTC, entry price $91,506, unrealized loss $4.68 million;
• Long $62.18 million worth of SOL, entry price $130, unrealized loss $4.66 million.

Overall, the short-term pressure on the crypto market remains, and investors should stay cautious and avoid high leverage.