Yesterday, both the US stock market and the cryptocurrency market experienced some rebounds, with Bitcoin returning to around $70,000 and market sentiment stabilizing temporarily.
It is worth noting that ETH bull Yi Li Hua has liquidated their holdings.
They originally held over 630,000 Ethereum, and now all of it has been transferred to Binance, leaving only about 20,000 still on-chain. This means that 96% of their Ethereum has already moved to exchange accounts.
Because if it was just to reduce risk and lower the proportion of borrowed funds to buy coins, there really wouldn’t be a need to sell so much.
However, the amount they transferred in far exceeds the amount needed to sell for debt repayment, so it can basically be concluded that this is a preparation for a complete liquidation.
They themselves also responded, saying: Yes, this round of operations has ended, and the position is indeed prepared to be fully sold off.
However, their fund as a whole is still profitable; this sell-off is just a partial return of the profits made earlier, rather than a total loss.
Overall, it now feels more like a recovery period, rather than the market having completely turned around. Large institutions are still adjusting their positions, and the market remains highly divided, with everyone still most concerned about the Federal Reserve's monetary policy.
It is worth noting that ETH bull Yi Li Hua has liquidated their holdings.
They originally held over 630,000 Ethereum, and now all of it has been transferred to Binance, leaving only about 20,000 still on-chain. This means that 96% of their Ethereum has already moved to exchange accounts.
Because if it was just to reduce risk and lower the proportion of borrowed funds to buy coins, there really wouldn’t be a need to sell so much.
However, the amount they transferred in far exceeds the amount needed to sell for debt repayment, so it can basically be concluded that this is a preparation for a complete liquidation.
They themselves also responded, saying: Yes, this round of operations has ended, and the position is indeed prepared to be fully sold off.
However, their fund as a whole is still profitable; this sell-off is just a partial return of the profits made earlier, rather than a total loss.
Overall, it now feels more like a recovery period, rather than the market having completely turned around. Large institutions are still adjusting their positions, and the market remains highly divided, with everyone still most concerned about the Federal Reserve's monetary policy.