I just saw an interesting on-chain activity. The long position holder who previously accumulated 105k ETH has added to their position again. This guy recently bought an additional 3,000 ETH at the $1,919 level. Now, the total long position across these two wallets is back to 60k ETH. Combined, they still hold that 105k ETH, which is roughly over $200 million at current prices. However, the unrealized losses are quite significant—one address entered at an average price of $2,048.9 and is now down about $6.36 million, while the other opened at $2,029.38 and is also nearly $4 million in the red. It looks like they are firmly bullish at the bottom range; despite ETH's recent decline, they kept adding to their positions. Such behavior is quite rare when market sentiment is low. Pretty interesting.