It seems the bottom hasn't arrived yet, and the whale hasn't surrendered, still bottom-fishing.

But what the whale is doing is also correct—if it doesn't buy during the dip, when will it buy—only after the price rises?
Bottom-fishing whale "7 Siblings" spends another $18.03 million to buy 11,759 ETH.
In the past week, this whale has borrowed over $68 million intensively from the Spark protocol to purchase ETH, with its buying pace clearly accelerating recently.
The detail that it "still holds 10 million USDS," combined with its statement that it "may borrow further," reveals its aggressive leveraged bottom-fishing strategy: not using its own funds, but continuously amplifying its position through DeFi lending protocols.
This approach has been consistent over the past six months, but the recent borrowing frequency and amounts have significantly increased, indicating it believes ETH prices have entered its defined "deep value zone," and it has strong confidence in a subsequent market rebound.
Its operations have become a key indicator for observing how large capital uses on-chain leverage for left-side positioning.
On June 6, according to Onchain Lens monitoring, the bottom-fishing whale "7 Siblings" again spent $18.03 million to buy 11,759 ETH, currently still holding 10 million USDS, which can be used to continue buying ETH.
This whale may further borrow to buy more ETH. $ETH
{spot}(ETHUSDT)