Although Bitcoin briefly dipped below $88,000 last night, Ethereum also touched the $2,900 level. However, the overall market quickly recovered in a short time, with many on-chain whales seizing this pullback to build long positions.
Insider whales are aggressively building positions
According to on-chain data, a trader, who was previously dubbed the "insider whale" by the community for successfully positioning short positions and making $200 million during the market crash triggered by the US-China tariff conflict on October 10, has started building a large long position in Ethereum since last night.
At the time of writing, the trader's total Ethereum holdings have reached 54,514.74 ETH, with an average price of $3,048.56, a nominal value of about $170 million, and an unrealized profit of about $4.2 million. Despite the large position, due to having $74 million in margin, the overall position leverage is not high, thus the liquidation price can be controlled at a safe level of $1,801.48.
Brother Ma Ji is still unwilling to admit defeat after the forced liquidation
On the other hand, in recent months, Brother Ma Ji, who has been liquidated multiple times due to aggressive buying, was forcibly liquidated of over 7,500 Ether long positions during last night's decline, and immediately bought back into Ether long positions.
At the time of writing, Brother Ma Ji holds 4,550 Ether long positions, with a nominal value exceeding 14 million US dollars. However, due to Brother Ma Ji's account margin of only 640,000 US dollars, which is equivalent to gambling with a leverage of 22 times, the liquidation price is as high as 3,046 US dollars. This means that as long as Ether drops by 2.5% from the current price, Brother Ma Ji will face forced liquidation again.
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