Huang Licheng has closed a significant portion of his Ethereum long position, reducing it by 1,606 ETH, equivalent to approximately $3.23 million. This move comes as his position faced increased unrealized losses, nearing liquidation temporarily. The reduction incurred a loss of about $34,000, adjusting his position size from $11.35 million to $8.09 million and lowering the liquidation price to $2,006. Huang initially reopened his position on March 26 with less than $100,000, subsequently adding $700,000. However, the downturn has significantly impacted his account balance, which now stands at approximately $250,000, culminating in a cumulative weekly loss of $1.04 million.