On-chain data analysis shows that market fluctuations led to the liquidation of a large whale address's lending position, involving 67,500 ETH, worth approximately 105 million USD. Although the address had added 2,160 ETH in the early hours to reduce liquidation risk, it was still unable to avoid being forcibly liquidated when ETH fell to 1,650 USD. This incident intensified the downward pressure on ETH's price, highlighting the market's vulnerability in the current environment.