According to ChainInfo, the whale labeled “Long ETH with $125k Leveraged Position” was partially liquidated, an instance of ETH long position liquidation that reduced the unrealized profit from $5.5 million to $1.13 million. After the adjustment, the entity still holds roughly 14.6k ETH in long exposure, with a notional value near $67.7 million, indicating concentrated risk in the ETH derivatives market.
This event highlights how sizable leveraged positions can trigger margin events and influence order-book dynamics; partial liquidations may contribute to short-term selling pressure and elevated implied volatility across futures and options. Market participants should track on-chain metrics, funding rates and exchange margin levels to quantify risk rather than relying on unverified speculation.