All Ethereum Whale Cohorts in the Red, Signaling Mid-Term Bottom

BlockBeats News, February 20th, according to analyst Darkfost, Ethereum's ongoing pullback has put significant pressure on holders, with all categories of whale cohorts currently holding unrealized profit/loss in the negative, a historical pressure state that often heralds a midterm bottom. Specifically:

1k - 10k ETH Holder Whale Unrealized P/L: -0.21;

10k - 100k ETH Holder Whale Unrealized P/L: -0.18;

100k+ ETH Holder Whale Unrealized P/L: -0.08;

Darkfost noted that considering Ethereum's price has not even retraced to last April's low, this is indeed a rather surprising development. If Ethereum's price continues to drop, these mega whales could be in serious trouble, possibly even forced to capitulate and sell off their large holdings of Ethereum.