Today, three messages have exploded in the Ethereum circle, a tale of two extremes——

First, a large account has been liquidated.

On-chain data just revealed that Machi's 5250 ETH long position was liquidated, worth 11.06 million USD, going straight to zero. The account now has only 158,000 USD left, with a total loss exceeding 30 million. Leverage is a tricky thing; when the market fluctuates, it can teach you a lesson in no time.

Second, another whale is frantically bottom-fishing.

At the same time, a mysterious address associated with Erik Voorhees has aggressively bought 260 million USDT in the past two weeks, acquiring 120,252 ETH at an average price of 2162 USD. Today, they added another 2012 at a price of 2134. A typical case of “selling high, buying low,” a strategy of seasoned investors.

Third, the technicals are stuck at a critical position.

ETH is currently hovering around 2130 USD, with the range of 2100-2150 being the recent battleground. Over at the ETF, 13.1 billion USD has flowed out in a day, with BlackRock alone contributing 10.2 billion, creating significant selling pressure. The fear index has hit 11, indicating extreme fear.

The good news is that there are giant whales accumulating around the 2100 USD mark, which is a strong support level. The bad news is, if it drops below 2000, the abyss below is 1900-1800-1600.

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In summary: large accounts are getting liquidated, whales are bottom-fishing, and retail investors are watching from the sidelines.

2100 is the line between life and death. Hold above it, and a rebound to 2600 is possible; drop below, and prepare for winter.