When a whale unloads, the market shakes three times! This wave of nearly 30,000 ETH 'moving'—is it a bull turn or a bear appearance?

In plain terms: On-chain detective 'Aunt Ai' has revealed some explosive news—big player Trend Research has been quite active lately! In just 12 hours, they deposited more than 27,000 ETH (worth nearly 100 million dollars!) into exchanges, and they are continuously reducing their leverage position on the lending platform Aave. In simple terms: selling coins for cash while repaying borrowed money. This move clearly indicates that they want to secure their profits.

Tang Seng's perspective: I (Tang Seng) believe we need to look at this matter from two sides:

Short-term negative, beware of 'stampede':

  • Sending so much ETH to exchanges all at once is like suddenly having a large number of 'sellers' in the market, which will definitely put pressure on the price in the short term. Imagine, if there were originally 10 people selling vegetables in a market, and suddenly a big player brought in three trucks of cabbage to sell at a discount, can the vegetable prices not drop?

  • What’s more critical is that they are reducing leverage! This indicates they think the current price is a bit 'overinflated' and are afraid of getting liquidated if it drops. If big players are this cautious, retail investors need to be even more careful. Think about last year's LUNA crash; it was also the big players quietly pulling back leverage and running away, leaving retail investors to guard.

Not necessarily bad in the long term, or it could be a 'healthy pullback':

  • This big player is not clearing out to run away! They still hold over 180,000 ETH; this time they only sold about 15%. This is more like 'I've made enough profit, let's take out some money to spend', rather than a complete bearish outlook on ETH.

  • Actively reducing leverage is actually a good thing! Borrowing money to trade (leverage) is like taking stimulants; it can make you soar in the short term but harms you in the long run. Now that big players are voluntarily 'stopping the drugs', it actually reduces the risk of a sudden market crash and allows the bull market to advance more steadily and further. Just like in January 2024, there were also big players taking profits after ETH broke 3000, leading to a 12% pullback. However, after washing out the weak hands, it surged to 4100 in just two months!

So, disciples! This operation is a short-term negative, but it may not be a bad thing in the long term. The key depends on two points: 1. Will this big player sell again? 2. Are there other whales following suit to 'unload'? Where do you think ETH will pull back to this time? 2800? 3000? Or can it withstand the pressure and continue to surge?

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