Whales are all deep in the red, a historical bottom signal?

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CoinNetwork
Coin World News: CryptoQuant analyst Darkfost posted on the X platform, pointing out that ETH whales have fallen into losses, the first time this has occurred since 2019. The unrealized profit ratios for the three categories of whales are all negative: -0.26 for the 1,000 to 10,000 ETH range, -0.21 for the 10,000 to 100,000 ETH range, and -0.05 for the 100,000 ETH and above range. Darkfost stated that historically, when the ETH market tests the conviction of whales, it often simultaneously forms a bottom area, and Ethereum has demonstrated considerable resilience so far.
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