🐋 After nearly 40 million square meters following the previous phase, another batch of giant whales has concentratedly exited, with over $46 million in total

After the previous wave of nearly $40 million in whales selling to close positions, before 22:00 at the time of this report, there were again dense on-chain operations (Figure 1 + Figure 2). The statistics are as follows:

## 1. Selling to close long positions (total $46.4991 million)

· BTC: $38.9955 million
· ETH: $7.5036 million

## 2. Buying to close short positions (total $9.7819 million)

· BTC: $1.5779 million
· ETH: $8.2040 million

## 3. Buying to open long positions (total $2.7571 million)

· BTC: $1.5841 million
· ETH: $1.1730 million

## Key signals
After the previous wave of nearly $40 million in long position closures, the market dipped briefly and then rebounded; however, this time whales still chose to continue closing more than $46 million worth of long positions. Moreover, the scale of closing longs ($46.49 million) is far larger than the scale of opening longs ($2.76 million). After both rounds of clustered long closures, no clear signs of reverse opening of long positions appeared—either they cashed out and exited, or they sensed unknown risks.

When going long, please stay cautious. Better believe it than doubt it.
$BTC