When Ethereum just dropped below $3,000, retail investor groups were filled with wails of despair. But while everyone was staring nervously at the candlestick charts, on-chain data flashed a mysterious smile—a wallet address that had never appeared before suddenly showed up in the early morning hours, directly sweeping up 2,640 ETH with $8 million. Note, this wasn’t an old whale shuffling funds between their own accounts—this was brand-new money opening a position for the first time.

Interestingly, on the same day, a completely opposite story unfolded elsewhere. The second-largest ETH long position holder on a certain platform chose this critical moment to cash out completely, pocketing over $1 million in profit before walking away. Seasoned players always have sharp instincts—during volatile markets, securing your principal comes first.

Looking back two days, the data gets even more explosive. Tom Lee’s institution directly shelled out $130 million to scoop up nearly 42,000 ETH in one go. Moves of this scale are a clear signal of long-term bullishness.

The current situation is quite delicate: retail investors are selling at a loss while whales are picking up chips; some are panic-selling, others are quietly accumulating. The $3,000 level has become a battleground between bulls and bears. Who will have the last laugh? It depends on whether the buyers have enough firepower to bottom fish, or if the profit-takers’ selling pressure is fiercer. Which side are you on?