A closely watched Bitcoin perpetual position held by trader Garrett Jin (@GarrettBullish) has crossed back into positive territory after more than three months in the red, according to on-chain data flagged by Lookonchain on August 21, 2026.
The position consists of 1,268 $BTC with a notional value of approximately $97 million. At its worst, the trade carried an unrealized loss exceeding $22 million. As of the data timestamp, the same position now shows an unrealized gain of over $500,000.
The full position history is publicly verifiable on-chain: View on Hypurrscan.
The turnaround represents a swing of more than $22.5 million in unrealized P&L, driven entirely by Bitcoin’s recent price appreciation. The position has not been closed, meaning the $500,000+ figure remains unrealized and subject to change with further price movement.
From an interpretive standpoint, the fact that this position was held through a drawdown of over $22 million without being liquidated or manually closed suggests either significant margin backing or a high conviction thesis on Bitcoin’s longer-term direction — though this remains interpretation, not confirmed fact. The duration of over three months also indicates this is a strategic hold rather than a short-term trade.
No details on the entry price, leverage used, or platform margin terms were included in the available data. The position classification in the source data is a long perpetual, with no short component recorded.
Source: Lookonchain · Published by CoinsProbe Markets Desk
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