ETH Bullish whale reluctantly closes position after holding for two months, ending with a $9.63 million loss on a $120 million position

BlockBeats News, February 9 — According to HyperInsight monitoring, a major ETH long whale (0xa5b…) on a certain chain closed all of its ETH long positions held for about two months today, resulting in a loss of approximately $9.63 million. The position was established at the end of last year, with a holding size of about 60,040 ETH, a peak value of approximately $125 million, and an average price of around $2,500.

During the holding period, although the address attempted multiple times to average down, it was still temporarily at a loss of over $24 million on February 6, approaching liquidation. With the recent market rebound, the whale chose to close the position temporarily to cut losses.

After closing the position, the address reopened a short ETH position with an average price of about $2,086 and 15x leverage, with a current position size of approximately $28.6 million. As of press time, it is still slightly increasing the position, with remaining account margin of about $34.8 million.