On-chain data shows that a leading wallet address closed 2,371 Ethereum long positions within the past half hour, with a trading volume of approximately $7.44 million. This closing transaction ultimately resulted in a loss, with an unrealized loss of about $114,400.

Interestingly, the lifecycle of this position was quite short—only 27 hours from opening to closing. According to historical data, the average cost at the time of opening was approximately $3,135.76 per ETH. During this period, Ethereum's price fluctuations clearly put significant pressure on this position, ultimately prompting the holder to cut losses.

The trading activity of such large accounts often reflects market participants' changing attitudes toward recent market trends. Closing positions within a short timeframe usually suggests that the holder's outlook on the subsequent market movement has shifted.