ETH selling pressure surges! Whales cash out $120 million to repay debts!

On December 20, according to monitoring data, recent market prices have continued to decline, forcing many whales to sell ETH to repay debts. A large whale deposited 22,746 ETH (approximately $77.7 million) to Binance in the past 5 hours, and then quickly withdrew stablecoins to repay debts on the Spark and Aave platforms.

Even more shocking is that this whale has deposited a total of 31,968 ETH worth up to $122.3 million to Binance in the past two days! This action not only reveals the current financial pressure in the market but also brings significant selling pressure to ETH.

Mr. Lin's viewpoint:

The debt repayment behavior of whales highlights the short-term impact of the deleveraging process on the market. Behind such large-scale selling often lies potential risks and opportunities for price fluctuations. Investors should closely monitor subsequent developments, exercise caution in their layouts, and avoid becoming victims of market sentiment.

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