According to on-chain analyst Yu Jin, due to the sharp drop in ETH, the positions of "rolling whales" were liquidated overnight, leaving them with only $70,000 in margin. Previously, their positions had profited $43 million, but had been liquidated to $6.86 million. The latest round saw a reversal from a $9.19 million profit to a $670,000 loss. Initially starting with $125,000, they are now back to square one after two roller-coaster rides.