Recently, there has been an interesting on-chain movement worth paying attention to. A well-known whale named "pension-usdt.eth" started unloading their ETH long positions at the $3344 price level, selling off 1378 ETH in a short period and cashing out $4.6 million.

After this move, the whale still holds a position worth $63.74 million in ETH, with an unrealized profit of $4.65 million. Interestingly, their liquidation price was set at $1592.07—indicating that even if ETH drops further, they have already planned their stop-loss point.

Looking at this whale's trading history provides more insight into their skill level. With a capital scale exceeding $30 million, they rely on high-frequency, large-volume trades to repeatedly buy the dip and sell the top amid market fluctuations. Having played this game for many years, they have accumulated over $10.23 million in profits. Considering the total historical trading volume exceeding $4.5 billion, this guy clearly has a deep understanding of market trends. When the market experiences twists and turns, the movements of such whales are often the most worth analyzing—they's their reduction in positions, to some extent, reflecting their true judgment of the market outlook.