On January 8th, as Ethereum fell below the $3100 mark, a well-known whale wallet continued to reduce its position. According to on-chain data monitoring, this whale has closed a short position of Ethereum worth $64 million, successfully taking profits. Interestingly, it has not completely exited — it is still short 8,377.77 ETH with 3x leverage, equivalent to a position of approximately $26.14 million. This open short position currently has an unrealized profit of $150,000, indicating that this whale remains cautious about Ethereum's future prospects. The reduction of large short positions and adjustments in holdings often indirectly reflect the real-time judgment of major market players.