A large Ethereum whale dramatically bolstered its long exposure amid last week’s sell-off, adding enough ETH to bring its position to roughly 115,000 ETH (about $215.4 million) in an apparent move to avoid liquidation, on-chain trackers show.
Quick take
- Market shock: the broader crypto market lost more than $2 billion in value and sparked over $470 million in liquidations during the downswing.
- Ethereum hit a low of $1,844 and was trading around $1,873 at the time of reporting, down about 5.7% on the day and extending a week-long downturn.
- A Matrixport-linked whale increased its long holdings to 115,000 ETH, according to Lookonchain, effectively injecting capital to reduce leverage and lower liquidation risk.
- Between Feb. 22–23 CoinGlass logged more than $110 million in long liquidations for ETH; notable liquidations included Machibigbrother’s partial wipeout of roughly 7.9k ETH (over $15M).
What the whale did — and why it matters
Lookonchain reports that the Matrixport-linked account added funds to its ETH long positions as prices plunged below $1.9k. When a big trader adds collateral to a long during a price drop, the practical effect is the same as paying down potential liquidations: leverage is reduced and liquidation thresholds move farther away. For a whale holding hundreds of millions in exposure, that’s a defensive step to survive volatile moves without being force-sold.
Liquidations and retail pain
CoinGlass data shows long liquidations accounted for a sizable share of the carnage — over $110M in just two days. One high-profile account, Machibigbrother (Machi), was partially liquidated across three positions for roughly 7.9k ETH. After that hit, Machi reportedly opened additional long exposure and now holds about 1.7k ETH (≈ $3.2M).
Market indicators paint a bearish picture
Multiple on-chain and charting indicators flagged strong seller dominance during the drop:
- TradingView’s Buy/Sell Volume Pressure-to-Price indicator signaled broad capitulation, with net pressure turning negative.
- The Demand Index slipped to -0.14, indicating waning buy-side liquidity.
- Connors RSI moved deeper into oversold territory at 15.9.
- DMI readings showed a weakened +DI (~7) versus a stronger -DI (~32), consistent with strong downward momentum.
What could happen next
If current bearish sentiment persists, ETH may test lower support — analysts point to $1,746 as a key level. Conversely, if the market calms and buying returns, $1.9k could hold and pave the way for a rebound toward $2k.
Sources and disclosure
Data cited: Lookonchain, CoinGlass, TradingView. This article summarizes market events and on-chain activity and is for informational purposes only — not investment advice. Cryptocurrency trading carries high risk; do your own research before making decisions. © 2026 AMBCrypto
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