Crypto whales are panicking, selling off assets and incurring losses due to the September chaos in the market.

Liquidations approached $1.7 billion, while whales were panic selling ETH, HYPE, and PUMP.
Many whales closed their positions at a loss.
Whale sales increase volatility in the market.
September's volatility in the market has shaken even the largest cryptocurrency holders. Many whales have started to panic sell their tokens. Let's take a look at what is happening.

The actions of whales have led to significant declines across the entire market spectrum. This affected Bitcoin, Ethereum, and many altcoins, whose positions worsened significantly at the beginning of the week.

Crypto whales succumbed to panic

On Monday, the mood in the crypto market changed dramatically, triggering liquidations of $1.7 billion. According to analytics service Coinglass, this is the highest figure this year. Traders view this as a healthy reset, necessary for stabilizing the derivatives markets and reducing the risk of forced liquidations.

The ETH whale went into the red

However, according to the on-chain tracker Lookonchain, some whales panicked and sold assets during the crash. For example, address 0x3c9E sold at a loss of 1,000 ETH tokens amounting to $4.19 million. However, Lookonchain noted that the whale owning this address often acts rashly, buying ETH at peaks and selling during dips.

"Whale 0x3c9E, who buys high and sells low, has panic-sold 1,000 ETH for $4.19 million... Over the past two months, this whale has consistently bought ETH at high prices and sold at low ones," wrote Lookonchain analysts.

The whale sells HYPE at a loss

Another whale with the address 0x09D4 has strengthened bearish sentiment by selling 56,569 HYPE tokens for $2.67 million at an average price of $47.23. In this deal, he lost $103,000 as he bought these tokens less than a month ago for $2.77 million at $49.
The whale PUMP lost over $500,000.

Losses have spread to other assets as well. Whale BV2gzZ sold 307.27 million PUMP tokens for a total of $1.73 million at an average price of $0.00564. This deal resulted in a loss of $582,000 for him, as the whale bought the tokens nine days ago at a price of $0.00753.

The rapid mood swings highlight the speculative nature of meme coins like PUMP, where trends can change in a matter of days, and unsuccessful investments can result in million-dollar losses.
Large holders did not save the market

The wave of whale liquidations coincided with the overall market decline in September: Bitcoin and altcoins struggled to maintain positive momentum. Large holders typically stabilize the market during downturns, but the recent wave of panic selling shows that fear is gripping even them.

For small traders, the departure of whales may mean that large capital does not save the situation. It is critically important to conduct research independently.