On-chain monitoring shows that the OTC whale/institution at address 0x8c58...04b1 only added to its position yesterday—starting with a buy of 15,000 ETH. But when the market dropped early this morning, it chose to take profit, cutting most of its holdings:
7 hours ago, it transferred 42,000 units of #ETH (about $112 million) into Galaxy Digital, locking in approximately $21.12 million in profit;
Over the past two months, it accumulated 52,000 ETH at an average price of about $2,161;
Early this morning, it reduced its holdings by selling 42,000 ETH at a price of $2,664.
Simply put: this address built its position over two months, added more yesterday, and after the early-morning dip, quickly took profit—turning most of its ETH into gains.
7 hours ago, it transferred 42,000 units of #ETH (about $112 million) into Galaxy Digital, locking in approximately $21.12 million in profit;
Over the past two months, it accumulated 52,000 ETH at an average price of about $2,161;
Early this morning, it reduced its holdings by selling 42,000 ETH at a price of $2,664.
Simply put: this address built its position over two months, added more yesterday, and after the early-morning dip, quickly took profit—turning most of its ETH into gains.