Whale Dips Into Ethereum at Low Prices, Faces $3.42M Loss After $127M Buy

On-chain data reveals that on January 17, a prominent whale address—labeled as a counter-strategy player—executed a significant accumulation during market lows. Over the past 10 hours, it added 9,890 ETH and 1,018.97 BTC in long positions, amounting to approximately $127 million in new exposure.

Second-Largest ETH Long Position on Platform

Following the purchases, the address now holds the second-largest ETH long position on a major derivatives exchange, with total holdings valued at $449 million. Despite the bullish signal sent by this aggressive buy-in, the position currently shows an unrealized loss of $3.42 million due to short-term market volatility.

• Accumulation Time: January 17, during market dip
• Assets Acquired: 9,890 ETH and 1,018.97 BTC
• Total Investment: ~$127 million
• Current Portfolio Value: $449 million
• Unrealized P&L: $3.42 million loss

Analysts suggest such strategic buying at lows often signals long-term confidence, though near-term risks from sentiment shifts and macro factors remain.