This guy ultimately fell before the rebound night, a typical example of “surrender-style cutting losses” —

According to Lookonchain, an address sold 1,862.3 ethereum:native (approximately $3.58 million) at an average price of $1,923 after holding for 5 months, realizing a loss of $1.42 million (-28%) compared to its January entry cost of $2,685.

Then it rebounded right after selling. 😂

Generally speaking, from the perspective of behavioral finance, holding for 5 months with a 30% loss leads to choosing to realize losses at the emotional low point and short-term low;

The concentrated appearance of such retail loss realization on-chain usually indicates that the selling pressure is nearing the end, and that chips are consolidating towards low-cost whales/institutions, clearing out floating positions for the subsequent rebound, often serving as a contrarian indicator of a phase bottom.

Many people fall like this right before dawn!

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