Onchain ETH Long Whale Closes $120M Position at $9.63M Loss, Opens High-Leverage Short

An onchain ETH whale (address 0xa5b…) fully closed a long position of roughly 60,040 ETH on Feb. 9, realizing an estimated loss of about $9.63 million, HyperInsight data show. The whale had held the position for around two months with an average entry price near $2,500 and a peak value close to $125 million; unrealized losses exceeded $24 million on Feb. 6, nearing liquidation despite multiple attempts to average down. Following the recent market rebound, the whale exited for a stop loss and opened a new ETH short at about 15x leverage with an average entry price near $2,086, currently valued at roughly $28.6 million. The address continues to add marginally to the short, with a remaining margin balance of about $34.8 million at the time of reporting.