Ethereum bulls have seen their profits erased as 120,000 ETH long positions now reflect a floating loss of $46.01 million. Initially, these positions had generated $44.61 million in profits. The positions, held by four addresses linked to a single entity, are valued at $225 million and face a liquidation range between $1355.8 and $1573.9. Notably, two addresses added $4.9 million in margin today to mitigate risks, with the most vulnerable positions just $300 from the liquidation threshold.