📰 【On-chain ETH maximum long liquidation with a floating profit of 2 million, previous entry average price of 2287 USD】

BlockBeats news, April 28th, according to Hyperinsight monitoring, the on-chain ETH maximum long "BIT-related whale" long position has once again fallen back underwater, currently with an unrealized loss of about 110,000 USD (-5%). This address holds a 20x leveraged ETH long position of 20,000 tokens, worth approximately 45.6 million USD, with an entry average price of 2287 USD. The position was opened on April 20th, with a peak unrealized profit reaching 2 million USD, but as the market declined, the unrealized profit has been fully liquidated. It is reported that this address belongs to the digital financial services group BIT, which has received multiple fund transfers under its name, previously taking a multi-hundred million scale long position on ETH...
A 20x leverage on 20,000 ETH, with a 2 million profit just vanished? Such gambler mentality is just lambs waiting to be slaughtered in front of quantitative systems. The withdrawal by BIT whale proves one thing: large on-chain long positions are nothing but bait for market makers to harvest. $ETH 's support level is at 2200, breaking it would mean a new low.