Ethereum early morning crash? The reason is that giant whales are selling off!
An Ethereum OG address that had been inactive for two years suddenly sold 501 ETH, and currently still holds a large amount, directly impacting market sentiment and causing a price plunge in the early morning.
From historical records, this address has previously made multiple large staking and deposit operations, and now has chosen to take some profits. If the selling continues, short-term adjustments may be hard to avoid.
Although the bull market is hot, every move by large holders can trigger a chain reaction. Should we buy the dip or wait and see? Let's first observe what the whales do next!