$ETH

Ethereum Experiences Massive Whale Sell-off! 65,000 ETH Long Positions Facing Liquidation Warning, Market Confidence Collapsing?

Core Events:

Ethereum (ETH) plummeted to $1,472 last night, hitting a new low for the year, becoming the worst-performing asset among the top ten cryptocurrencies. A shocking 'surrender' action by a whale has surfaced—an investor holding 65,000 ETH (worth over $100 million) faced multiple near-liquidation points due to the continuous price decline, ultimately choosing to cut losses and exit, selling nearly 36,000 ETH in a single day, leaving only a small position to struggle on.

Market Chain Reaction:

Whale 'Stampede Retreat': According to on-chain data, this investor still held 65,000 ETH long positions on March 11 but completely gave up resistance after a series of large sell-offs (average price $1,562) last night. Another whale, holding ETH for two years, also deposited 2,300 ETH into exchanges simultaneously; if cashed out at this moment, their profit would shrink to only $600,000.

Fundamental Concerns Emerge: The Ethereum ecosystem has recently been hit by bad news: Synthetix sold 90% of its ETH reserves due to stablecoin decoupling; Layer2 expansion plans are siphoning value from the mainnet; the growth of active addresses has stagnated, and institutional capital inflow has slowed. Community Confidence Shaken: Despite Vitalik's (V God) repeated emphasis on the future of Ethereum's technological upgrades, the ETH/BTC exchange rate has dropped to 0.02, the lowest since 2020, increasing market skepticism.

Deep Games:

This sell-off has exposed the fatal risks for leveraged players—high leverage long positions are easily liquidated in volatile markets. The retreat of whales may trigger retail investors to follow suit, forming a spiral downward effect. Interestingly, some analysts believe that the 'precise pinning' market may be manipulated by large funds, taking the opportunity to reap stop-loss orders.