Christmas has just passed, and a major on-chain news has instantly stirred the entire crypto market. A large holder who has held ETH for up to eight years suddenly moved—transferring 143,000 ETH to multiple unknown wallets overnight, which at current prices directly cashes out over 3.2 billion USD, causing ETH price to plummet and approach 2800.

This is not just a typical retail investor cutting losses. The player behind this has a significant background—entered the scene as early as 2015 during ETH's ICO, with a cost basis of less than 1 USD per coin. Since then, it has been like a nail hammered in place, known in the market as the "ETH Fossil." Historically, whenever this guy shifts positions, the market trembles accordingly. In 2016, selling 14,000 ETH directly drove ETH from 10 USD down to 6 USD; in 2023, offloading 15,500 ETH triggered a 15% plunge. But this time, with 143,000 ETH, it’s the largest move ever made by this entity.

What’s even more eye-catching is the transfer method. Dispersed into multiple wallets, this pattern usually indicates two possibilities: either gradually accumulating and cashing out in stages or a large-scale rebalancing. Either way, short-term selling pressure is inevitable.

Some might say that whale dumping is nothing new, but the timing this time is particularly noteworthy. Look at the current macro environment—US Q3 GDP growth rate surged to 4.3%, far exceeding market expectations. The probability of the Federal Reserve cutting interest rates in January has been pushed back to 13%, with high-interest rate expectations strongly returning. In this context, capital was already pushing risk asset valuations lower, and a major whale’s large exit move amplifies the impact several times. Whether this signal can determine your holdings’ fate next year remains uncertain, but at least it warrants serious consideration.