ETH Bullish Whale Reluctantly Closes Position After Two Months, Ending with a $9.63 Million Loss

Summary: A major whale on the blockchain fully closed a position of approximately 60,000 ETH on February 9, incurring a loss of $9.63 million. Although attempting to average down, it ultimately cut losses and reopened a short ETH position at an average price of $2,086, with a position size of about $28.6 million.

According to BlockBeats, on February 9, HyperInsight monitoring showed that a major ETH long whale (0xa5b…) on the blockchain fully closed its ETH long position held for nearly two months, resulting in a loss of approximately $9.63 million. The position was established at the end of last year, with a 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 experienced an unrealized loss of over $24 million on February 6, approaching liquidation levels.

With recent market rebound, the whale chose to close the position temporarily to cut losses. After closing, the address re-entered a position, opening a short ETH position at an average price of about $2,086 with 15x leverage, totaling approximately $28.6 million. As of press time, it continues to slightly add to the position, with remaining account margin of about $34.8 million.