All Ethereum Whale Cohorts in the Red, Signaling Mid-Term Bottom
BlockBeats News, February 20th, according to analyst Darkfost, Ethereum's ongoing pullback has put significant pressure on holders, with all categories of whale cohorts currently holding unrealized profit/loss in the negative, a historical pressure state that often heralds a midterm bottom. Specifically:
1k - 10k ETH Holder Whale Unrealized P/L: -0.21;
10k - 100k ETH Holder Whale Unrealized P/L: -0.18;
100k+ ETH Holder Whale Unrealized P/L: -0.08;
Darkfost noted that considering Ethereum's price has not even retraced to last April's low, this is indeed a rather surprising development. If Ethereum's price continues to drop, these mega whales could be in serious trouble, possibly even forced to capitulate and sell off their large holdings of Ethereum.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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