A big whale's recent moves are quite interesting. In just one day, they first dumped 70 million USDT into a major exchange, then quickly swept in 24,555 ETH, equivalent to $75.54 million, and then withdrew everything back on-chain for self-custody.

The strategy behind this operation is very clear—gradually increasing their position to lower their average cost. Currently, this individual holds 651,300 ETH, worth $1.92 billion. However, the average cost basis after averaging down is about $3,180, and at the current price, the entire position is floating at a loss of approximately $163 million.

In simple terms, they are adding more ETH at the lows. Based on trading volume and position size, every move by such large players influences the market. Their bottom-fishing rhythm often reflects institutional sentiment about the future market direction.