ETH Whale Sells Off Position After Two-Month Hold, Posts $9.63M Loss Before Shifting to Short Strategy

ETH Whale Exits Long Position After Heavy Losses

According to HyperInsight monitoring, on February 9, a major ETH long holder closed out their position after maintaining it for nearly two months. The position, initially opened near the end of last year, consisted of about 60,040 ETH with a peak value of $125 million.

Throughout the holding period, the trader attempted several cost-averaging maneuvers, but by February 6, unrealized losses had exceeded $24 million, nearing liquidation levels. With recent market recovery, the whale opted to cut losses and exit.

Shifts to Short Position with Leverage

Shortly after closing the long, the wallet re-entered the market with a new strategy, opening a short ETH position at an average price of around $2,086 with 15x leverage. The current position size is valued at approximately $28.6 million.

• About $34.8 million in remaining margin remains in the account
• Ongoing small additions suggest a cautious bearish outlook from the trader