#以太坊价格与ETF Seeing this on-chain data, that familiar sense of alertness has returned.

The 21 million ancient ETH still held by whales, these chips bought at $378 each, start to massively cash out every time they break $4,000—this massive $1 billion volume in June, and the $500 million single-day exit in September are not coincidences; they are signals. Those who have experienced several cycles should understand that profit-taking at this level of chips often signals a stage top.

The question is, how many people are truly watching these data points when chasing the high? Most are attracted by the price increase, driven by FOMO to go all-in, only to realize too late that they’ve been trapped when the whales start selling off gradually. This isn’t to say ETH has no prospects, but that timing entry and risk management are more important than simply betting on the right direction.

The owners of chips bought below $400 have already made the profits they wanted. For us later participants, what we need to learn is: don’t take others’ profit signals as cues to add more positions. Monitoring these data points and staying alert when whales start to exit is often much safer than chasing after rising prices. Living longer is more valuable than making quick money.