FG Nexus bought 50,770 ETH at $𝟯,𝟴𝟲𝟬 avg, then dumped 𝟱𝟭,𝟭𝟰𝟱 𝗘𝗧𝗛 𝗮𝘁 $𝟮,𝟭𝟯𝟴 — realizing an $𝟴𝟲.𝟲𝗠 𝗹𝗼𝘀𝘀 on its Ethereum treasury bet. The entity sold more than it originally bought, fully exiting into a downtrend. 𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: This is one of the largest documented ETH treasury losses from a single entity — outright capitulation, not a trim. The signal is bearish: entities that made deliberate allocations at higher prices are being forced to liquidate at current levels. Underwater treasury positions add structural overhead to any ETH price recovery. The selling began in November 2025 and is likely absorbed, but the broader risk is contagion — other treasury buyers from the Aug–Sep 2025 rally sit at similar losses. If they capitulate too, the selling compounds. ETH bought at $3,860 and sold at $2,138 is a ~𝟰𝟱% 𝗹𝗼𝘀𝘀 𝗽𝗲𝗿 𝗰𝗼𝗶𝗻. The 51,145 ETH dumped is significant flow, but the real watch is whether other underwater treasury entities follow. Each forced exit adds supply overhead that ETH needs to digest before recovering. Verify on Arkham: https://arkm.com/explorer/entity/fg-nexus source: lookonchain Track real-time signals & trade → https://hupzy.com/trending?utm_source=x&utm_medium=social&utm_campaign=agent_x_post&utm_content=1120(Hupzy (Spot On Chain))