ETH Bull Whales See Profits Wiped Out: 120K ETH Position Faces $46.01M Unrealized Loss

According to Odaily Planet Daily, on-chain analyst Ai Yi has monitored that a giant whale, which previously made a profit of up to $44.61 million by going long on ETH, has now completely given back all its gains. The whale controls four addresses belonging to the same entity, with a cumulative long position of 120,000 ETH, valued at approximately $225 million at current prices. However, the decline in ETH price has pushed this position into an unrealized loss of $46.01 million. Liquidation data shows that the liquidation prices for these positions range from $1,355.8 to $1,573.9, with the most vulnerable position having only about $300 buffer from its liquidation price. To mitigate the risk, two of the addresses added a total of $4.9 million in margin earlier today to prevent forced liquidation.