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A massive ETH whale sitting on a $600M long position hasn't budged, even though they're down $45M right now. The fact that someone's willing to absorb that kind of drawdown without closing tells you something—either they're betting on a serious bounce, or they know something the rest of us don't.
This isn't panic selling territory. Most traders would've cut losses by now. But whoever's behind this position is playing a longer game. The stubbornness here is worth watching—it could signal conviction that ETH has more runway ahead, or it might just be a whale with deep pockets who can afford to wait out the noise.
Either way, when positions this massive move, the market usually follows.