ETH Bullish whale reluctantly closes position after holding for two months, ending with a $9.63 million loss on a $120 million position

GateUser-6433627c · 2026-02-09T05:24:05+00:00

On February 9th, a large ETH whale on a certain blockchain closed a long position held for two months, incurring a loss of approximately $9.63 million. Although they attempted to average down, they ultimately chose to cut losses due to a market rebound. They have now reopened a short position on ETH, with a position size of about $28.6 million.

GateUser-6433627c

2026-02-09 05:24:05

Abstract generation in progress

On February 9, according to HyperInsight monitoring, a major ETH long whale on a certain chain (0xa5b…) fully closed its ETH long position held for about two months today, ultimately recording a loss of approximately $9.63 million. The position was established at the end of last year, with a holding 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 was still at a loss of over $24 million on February 6, approaching liquidation. As the market recently rebounded, the whale chose to close the position temporarily to cut losses. After closing, the address reopened a long position at a base price of about $2,086, using 15x leverage to open a new ETH short position. The current position size is 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.

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