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Bit (formerly Matrixport) is betting on a rebound with this move, and institutions are also betting on a rebound.
The floating loss of this address has decreased from -$6,663,692.74 (-119.06%) to -$4,511,661.60 (-78.59%), with an average price of $2,265.48, the current price of the coin is $2,152.69, the liquidation price is $1,349.66, and the position size is $86,109,245.98.
This address has received multiple fund transfers from Matrixport (now renamed Bit), and is currently the largest on-chain ETH long position, with two other related addresses collaborating to build the position.