A major trader's ETH long position took a sharp hit. The account holder jumped in with $1.35M over the past day, but his position turned red almost instantly. Currently sitting on a $610K loss—that's roughly 50% underwater from entry. The trader still has $650K in dry powder remaining in the account. The question now is whether he'll average down, cut losses, or hold the line while waiting for a reversal. This kind of volatility in large positions shows just how brutal intraday moves can be, especially when you're sizing into leveraged plays during choppy market conditions.