#数字资产动态追踪 【Ethereum Whales' Deleveraging Puzzle: Calm Decisions Amidst Unrealized Losses】

Recently, I came across an interesting ETH whale operation that I couldn't help but share with everyone.

The timeline is as follows — seven days ago, this major holder bought 8,550 ETH at a price of $2,991 each. Just a week later, yesterday, they suddenly started depositing coins into exchanges. In just 10 hours, they transferred in 3,000 ETH. At current prices, if this deleveraging transaction truly executes, it would realize an unrealized loss of $43,000. The remaining 5,550 ETH are still in a losing position, with an unrealized loss of $4.6 per ETH on paper.

But this guy still holds 22,981 ETH, with a wealth that’s truly astonishing.

**This raises a question — why would someone actively reduce their position when they are clearly at a loss?**

There are several possible reasons: one, to make a short-term adjustment to their holdings, possibly switching to another coin to catch a rebound; two, sensing that $ETH might continue to decline in the short term, so they decide to exit to avoid further risk; three, waiting for a strategic opportunity to deploy.

The actions of whales, frankly, are a barometer of the market. When players of this magnitude start reducing their positions, it usually signals a shift in their short-term outlook on the market. They might be looking for risk mitigation channels or preparing for a bottoming phase to make large-scale purchases.

For ordinary investors, the key is to stay disciplined. No matter how volatile $BTC and $ETH are, the core is to stick to your strategic rhythm. The crypto market is full of uncertainties at all times, but that also presents opportunities for long-term holders.