On-chain monitoring by Lookonchain reveals that an address linked to BIT exchange holds a $78 million floating loss on a long position of roughly 120,000 ETH. To offset downside risk, the address recently added 5.84 million USDC as margin, signaling determination to keep the position alive amid market turbulence. The stablecoin deposit boosts the collateral ratio and helps prevent liquidation.
Data shows four associated whale addresses with different liquidation prices: $1,414.51, $1,366.11, $1,360.73, and $1,309.53. In contract trading, any price drop below these levels triggers forced liquidation. Hence, ETH must stay above these thresholds to avoid closure.
The deep unrealized loss suggests a high entry cost, and the long faces notable headwinds. While the extra margin widens the safety net, risk is still present. If ETH declines further, the whale may need more margin or risk partial position liquidation.