Whale Short Selling: $27 Million ETH Operation, Lost $130,000 in 3 Hours!
👉 On-Chain Signal Interpretation:
If the remaining 10,503 ETH remains untouched, it may still be bullish.
If selling continues, need to be cautious of large holders turning bearish.
👉 Motivation Analysis
✅ Trial Operation: Large funds entering the market to test market depth, discovering selling pressure, and then taking some profits/cutting losses.
✅ Hedging Demand: May be adjusting positions with futures or options, not just pure spot losses.
❌ Emotional Trading: Cutting losses in 3 hours does not resemble whale behavior, more like institutional algorithmic trading.
👉 Market Impact
Short-term Psychological Shock: Large sell-offs may trigger follow-the-leader selling, but actual impact is limited (only 30% of buying volume).
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