According to ChainCatcher, Hyperinsight monitoring shows that the largest long position in ETH on-chain, held by the "BIT-linked whale," remains in a state of significant loss at $252 million. Over the weekend, the price of ETH retreated to around $2,000, causing the whale unrealized loss to widen to a high of $27.2 million. As of press time, due to a slight market rebound, the unrealized loss has narrowed to $19.3 million.
Currently, this whale is spreading its positions across four addresses on Hyperliquid, long of 120,000 ETH long, with an overall weighted leverage of approximately 18x. Based on the weighted average of the funds in each address, the average entry price is approximately $2,270. It is understood that this address belongs to the digital financial services group BIT (formerly Matrixport), and has received multiple transfers of funds from its accounts. Previously, it had long positions, profiting over $50 million.
