$ETH Smash the pot and sell everything to short!

On-chain monitoring shows that the unrealized loss on Tom Lee’s BitMine ETH reserves has expanded to about $7.35 billion. BitMine holds approximately 5.28 million ETH, with an average cost of around $3,513, while ETH’s current price is only $2,102. Analysts say ETH is currently in a typical bearish structure; if it breaks support, it could plunge to $1,600, at which point BitMine’s unrealized losses will grow even further. Institutions and whales are both in freefall—I directly set my position to a full-allocation short of $450,000!

1. As the world’s largest publicly listed ETH reserve company, BitMine’s paper unrealized loss is nearing $8 billion, and its ETH market share has slid from 15% to 10%. In a prolonged weak market, this massive amount of paper unrealized loss itself is the strongest fuel for shorting. Once stop-losses are triggered or positions are reduced, selling pressure will come crashing down.
2. The Ethereum Foundation has recently been cashing out frequently via over-the-counter transactions; in the past two weeks, it has sold tens of millions of dollars worth of ETH, and even founder Vitalik has reportedly been dumping. Ethereum true believers such as the founder of Bankless have publicly liquidated their positions and stepped aside—internal confidence has completely collapsed.
3. On the regulatory front, the CLARITY bill has been blocked, and lawmakers like Warren have submitted more than 40 amendments with the intent to block the compliance pathway. Meanwhile, whales continue to cut their holdings; since last October, mid-sized whales have reduced more than 3.4 million ETH. Funding rates are deeply negative, and the weekly chart has never been able to break above $2,200; breaking below $2,000 is only a matter of time.

A $450,000 short position fully locked with full leverage—waiting for BitMine’s unrealized-loss liquidation and massive sell pressure to smash ETH through $2,000, straight down to $1,600!