An interesting on-chain data point has just surfaced. About a week ago, an Ethereum whale purchased 8,550 ETH at an average cost of $2,991. What happened next? Before the rebound even started, this whale began to loosen up — 10 hours ago, they deposited 3,000 ETH into a major exchange, worth approximately $8.93 million. Selling now would result in a loss of $43,000. Even more painful, the remaining 5,550 ETH bought last week also didn't escape the floating loss, with an unrealized loss of $46,000. However, to be fair, this whale still holds 22,981 ETH in their wallet, indicating they are not entirely giving up — just adjusting their tactics.