According to on-chain analyst Ai Yi, a whale entity that previously made a $44.61 million profit from a long ETH position has now completely given back those gains. The four addresses controlled by this single entity have accumulated 120,000 ETH, with a total position value of approximately $225 million.
Currently, the position is deep in unrealized loss territory, standing at $46.01 million. The liquidation threshold ranges from $1,355.8 to $1,573.9, and the most vulnerable part of the position is now only about $300 away from its liquidation price. This morning, two of the addresses added $4.9 million in margin in an attempt to shore up the position and avoid forced liquidation.
The situation illustrates the intense pressure leveraged long traders face during ETH's recent pullback. While the added margin can buy some time, a further price decline could still trigger a full liquidation across the positions, wiping out even the remaining collateral.