[ETH Bull Whale Closes Position After Holding for Two Months, $120 Million Position Ends with $9.63 Million Loss] BlockBeats news, February 9, according to HyperInsight monitoring, a major ETH bull whale (0xa5b…) on-chain closed its entire ETH long position today after holding it for approximately two months, ultimately recording a loss of about $9.63 million. The position was established at the end of last year, with a holding size of approximately 60,040 ETH, peak value of about $125 million, and an average price of around $2,500. During the holding period, the address made multiple attempts to average down costs but still faced a floating loss exceeding $24 million on February 6, nearing the liquidation line. With the recent market rebound, the whale opted to temporarily close the position to stop the loss. After closing the position, the address reopened a new position, establishing an ETH short position with an average price of approximately $2,086 and 15x leverage, with the current position size around $28.6 million. As of the time of reporting, the whale continues to slightly increase the position, with remaining account margin of approximately $34.8 million.