Bitcoin Long Positions Concentrated at $78,057 Average Entry

Bitcoin (BTC) saw 1,330 coins purchased on average at $78,057, concentrating a significant long position at that price point. However, it remains difficult to confirm this level as a market-wide support line based solely on a single transaction.

On September 18, on-chain data analyst Ember reported that an address linked to Garrett Jin purchased 1,330 BTC over four hours at an average of $78,057. The unrealized profit was noted as approximately $3.05 million (about ₩42 billion). The connection between the address and Garrett Jin is based on public data analysis, not confirmed identity.

The position size was reported as roughly $17 million (about ₩147.8 billion), but simple multiplication of 1,330 coins at the average price yields approximately $13.815 million ($1.434 billion). The discrepancy likely stems from different valuation timing or calculation methods, though exact details were not disclosed.

Bitcoin prices have since surpassed $80,000, but no evidence was provided linking this movement directly to the long position. The $78,057 level represents the average entry point for this position; whether it holds as support or becomes resistance depends on whether the position is maintained and additional orders are executed.

Ember also noted in the same public post that the address placed a pending order to buy an additional 2,450 BTC near $78,000, totaling about $190 million (about ₩26.24 billion). It remains unclear if this order was executed. Pending orders should be distinguished from actual demand.

It is also uncertain whether the transaction involved spot buying or a derivatives position, though leverage was mentioned without specific details on leverage ratio or liquidation price. The long position reflects an expectation of rising prices, with unrealized profit calculated based on current market value before closing the position.