ETH Whale Realizes $596,000 Loss While Rebuilding $116 Million Leveraged Long Position

An onchain ETH whale address (0xa5b…) sold 7,000 ETH at around $2,035 on Feb. 9 and $1,960 on Feb. 11 for roughly $14 million, then repurchased ETH at an average of $1,919 over the past six hours, realizing a total loss of $596,000, Coinbob Hot Address Monitoring data cited by BlockBeats show. The address now holds a 15x leveraged long position of 60,000 ETH worth about $116 million, with an average entry price lowered from $2,059 to $2,048, an unrealized loss of $6.27 million (80%), a liquidation level at $1,328 and $27 million in remaining margin. BlockBeats also noted the same whale fully closed a similar 60,000 ETH long on Feb. 9 that had been held for about two months, locking in a loss of roughly $9.63 million before reentering the market.