**Ethereum Whale Activity Sparks Market Attention**

Yesterday, on-chain monitoring showed that a large Ethereum holder transferred 2015 ETH to a major exchange, with this transaction accompanied by a paper loss of up to $2.04 million.

From a market perspective, such large floating loss positions flowing into exchanges often imply two possibilities: either preparing to cut losses and exit, or brewing a large-scale sell-off. In either case, it will create noticeable selling pressure on the market. Once retail investors catch onto these movements, it can easily trigger follow-on selling, further amplifying the decline.

In the current environment where mainstream cryptocurrencies like Bitcoin and Ethereum are facing adjustments, such on-chain signals warrant investor vigilance. In the short term, the market may face certain selling pressure, and it is recommended to closely monitor the movements of large holders and trading volume.