5 hours ago, the last 3,631 ETH were also transferred from this giant whale/institution address. This means that all 95,313 ETH ($234 million) they redeemed from staking entered CEX within a month.

Many friends say that recently ETH ETFs have been continuously flowing in, and the Ethereum version of MicroStrategy, SharpLink, has also been buying continuously. Why is the performance of $ETH still very weak?

It may be because... there are other whales/institutions unloading 😂
For example, this whale/institution below: they have redeemed 95,313 ETH from staking through 2 addresses in the last 3 weeks, and have currently transferred 68,182 ETH ($165 million) to CEXs like HTX, OKX, and Bybit.
Currently, there are still 27,131 ETH ($67.51 million) in the addresses, which should continue to be transferred to CEX in the coming days.

These ETH were staked last year, with an average price of $2,878 at the time of staking. The current average price for redemption and transfer to CEX is $2,431, meaning a loss of $42.6 million.

Addresses:
0x14e40e9528D3d3aE65d710aaFd7019e61fF0b447
0x26BbffEF29c50F607BE20D98cB44fbFc64cc50DF