巨鯨減持

Last night's on-chain data showed that the whale 'Brother Ma Ji' made significant moves with related addresses: a one-time reduction of 786 ETH, bringing the current holdings down to about 3144 ETH, valued at approximately 9.69 million USD. This action has attracted significant attention from the market.
📉 Key Interpretation: Three Possible Motivations
1. Actively Reducing Leverage for Survival: After the operation, its liquidation price was exposed at 3042.74 USD, very close to the market price. This reduction is likely aimed at actively lowering risk to avoid being forcibly liquidated during extreme volatility, representing an extreme risk control behavior.
2. Cash is King, Responding to Uncertainty: When the macro environment and market direction are unclear, whales may choose to 'take profits' and liquidate nearly 3 million USD to hold cash, waiting for clearer signals or better opportunities.