There is a well-known Ethereum whale account that once reached a profit peak of $45 million in mid-September this year. What has happened in the past three months? It just blew up.

The latest data shows that this account's overall profit and loss have completely reversed — not only giving back the $45 million profit accumulated earlier, but also suffering an additional loss of $21 million. In just 90 days, $66 million has vanished from the account.

From earning huge profits in the NFT market to a collective collapse of long positions, all previous gains have been ruthlessly swallowed back by the market. The experience of this major holder reflects an interesting market phenomenon — when these top-tier players completely shift from a long to a short position, it often signals the true bottom is near. There's an old market saying: "Bulls don't die, bears don't stop." This devastating liquidation may be validating this ironclad rule.