Analyst: ETH Whale Group Absorbed All Market Selling Pressure in Last 30 Days, but Short-Term Long/Short Game May Intensify
By: theblockbeats.news|2025/08/09 07:41:57
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BlockBeats News, August 9th, on-chain data analyst Murphy posted data on social media claiming that the current ETH on-chain structure is "very healthy" and is also showing a very clear trend of "de-retailization." In the past 30 days:
· The Shark group (holding 100-1k ETH) has reduced its total holdings by 309k ETH
· The Whale group (holding 1k-10k ETH) has reduced its total holdings by 698k ETH
· The Mega Whale group (holding 10k+ ETH) has increased its total holdings by 2.1m ETH
Murphy further stated that not only did the Mega Whale group's increased holdings fully cover the above two distribution-focused groups, but it also absorbed chips sold by smaller fish and shrimp groups. Currently, there are still no signs of a significant reduction in the large volume of chips stacked in the $2,500-$2,800 range. With more and more traditional capital entering the market, if this trend of Mega Whale chip absorption continues, ETH is bullish in the medium to long term.
However, for investors chasing highs, the situation is slightly risky. In the short term, ETH's price and realized profit (RP) are forming a strong deviation, with the logic behind it being that due to the reduction in long-term high-profit chips turnover, gradually shifting to short-term chips' bull-bear game, resulting in a situation where the price is higher but the realized profit is lower. RP's deviation and OI's new high are the most significant manifestations of ETH's short-term bull-bear game intensification in the data.
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