On-chain monitoring just revealed some big news: a well-known player's long ETH position is in serious danger again.

Data shows this whale holds a long position of 7,250 ETH (total value over $22 million), with an average entry price around $3,058. But as Ethereum's price rapidly pulled back, the more than $2 million in unrealized profits he previously had have now completely evaporated, and he's actually sitting on a loss of over $150,000.

What's even worse? The liquidation price is set at $2,978—based on current prices, there's less than an $80 buffer before he's liquidated. At this distance, it could just be a matter of minutes.

To be honest, this isn't his first time dancing on the edge. From huge gains to almost wiping out the account, this is a real-life example of how market volatility can turn things upside down. Even players at this level can face a crushing defeat—doesn't that mean ordinary traders need to be even more cautious with position management?

The long-term trend might be positive, but short-term markets are always full of surprises. If ETH really breaks through this key support level, could it trigger a cascade of liquidations? Is this just a false alarm, or is it about to get bloody?

Do you think this position can hold? Or will the market make a sudden turn and save the day?