300 million bet on ETH! Institutional giants enter the market for a low buy, now facing a loss of tens of millions. Will they continue to increase their positions or cut losses and retreat?
Another major capital game is unfolding on the ETH battlefield —
According to on-chain analysis, a certain institution has made significant purchases during the downturn over the past three days, spending 112.96 million USDC to buy 47,070 ETH at an average price of $2,400, clearly bottom-fishing without hesitation!
But what's even more astonishing is that this is not their first time entering the market.
Within the last 11 days, this institution has accumulated a total of 333.78 million USD to purchase 132,535 ETH through Wintermute and Coinbase OTC, with an overall average entry price of $2,518!
Currently, they are facing an unrealized loss of 36.68 million USD (-11%), and the more than 30 million USD profit they previously made is about to be “completely given back” — is this operation a pre-emptive ambush? Or have they fallen into a quagmire?
Several key signals are worth pondering:
Is the continuously decreasing average entry price indicative of ongoing “strategic bottom-fishing”?
Multiple purchases through OTC rather than on-chain public buying may be aimed at quietly accumulating and building positions discreetly?
If ETH continues to stagnate, will these positions turn around and cause a sell-off, triggering a larger market panic?
Such “bullet-level” funds, once their directional judgment is wrong, not only face unrealized losses but may also lead to bloodletting across the entire sector.
Are they smart money? Or are they becoming “whale leeks” in the eyes of others?
Everything hinges on whether ETH can return to crucial support levels!
The market is never about who can see it most clearly, but rather who can withstand it.
Will you choose to follow, or stay away? This may be one of the most critical decisions to make in the short term.
