"Whales are running away, Ethereum is doomed""Hurry up and run before getting trapped"—Recently, these kinds of comments are everywhere, causing many retail investors to ask me whether they should cut losses and sell.

Honestly, I have seen too many whale entry and exit dramas over the years, and I have experienced multiple cycles of bull and bear markets. My feeling is very straightforward: no need to panic. The selling pressure from whales on ETH this time is not a sign of doomsday; instead, it’s more like a "testing water opportunity" left for retail investors. As long as you understand these key logic points, you can find your own opportunities amid the volatility.

First, look at why whales are clearing their positions. Don’t be fooled by appearances—selling doesn’t mean they are bearish on the market. This whale has been holding ETH for five years, just completing a full bull-bear cycle. Cashing out now is more like a "retreat after achievement" rather than an "escape." Looking back at history, the large holder who accumulated 120,000 ETH in 2025 has already sold off, and ETH didn’t crash afterward; instead, it rebounded after all negative news was digested.

The current Ethereum ecosystem is much more mature than back then. The Pectra upgrade is imminent, and the staking function of the spot ETF is also fermenting. The long-term fundamentals haven’t changed much; the short-term selling pressure is just temporary divergence.

Next, consider the market’s true capacity to bear shocks. A selling pressure of 124 million USD sounds significant, but you need to know that the current institutional funds in the crypto market are no longer at that scale. As the industry accelerates its institutionalization, spot ETFs are continuously bringing in incremental funds from traditional finance. These funds are characterized by strong resistance to volatility and a preference for long-term holding. According to on-chain monitoring data, in the past day, several institutions have been accumulating ETH in OTC markets, with a net inflow of 320 million USD. This force is enough to effectively offset the dumping pressure from whales.

From a technical perspective, this correction is actually a "normal consolidation and shakeout," not a catastrophic event.