š Whale Resilience: Rebuilding a $123M Long Position After $9.6M Hit!
The $ETH market never sleeps, and neither do the whales! A major player recently made waves on-chain after closing a massive long position with a significant $9.6 million loss, only to jump right back into the deep end.
The Setback
After holding a substantial position for nearly two months, the whale (address starting with 0xa5b) faced intense market pressure. With $ETH prices dipping toward the $2,000 support level, the positionāonce valued at a peak of $125 millionāfaced unrealized losses exceeding $24 million at its worst point. To avoid total liquidation, the whale temporarily closed the position, locking in a $9.6 million deficit.
The Comeback
Proving that conviction in Ethereum remains high, the whale didn't stay on the sidelines for long. Following a slight market rebound, the whale has already begun rebuilding the long position.
Average Entry: Approximately $2,086
Leverage: 15x
Current Position Size: Over $28.6 million (and growing)
Total Re-exposure Target: Aiming back for that $123M+ mark
What This Means for $ETH
When a whale absorbs a nearly $10M loss and immediately re-enters with high leverage, it signals a strong belief that the bottom might be in. While $ETH has faced a 20% slide recently, this "buy the dip" mentality from big money suggests we are in a decisive accumulation phase.
Will this bold 15x move pay off, or is the market headed for more volatility?
