9 hours ago, the mysterious whale from the "1011 flash crash incident" made another move.

This time, he reduced his holdings by 4,513 ETH, cashing out $14.06 million, securing a short-term profit of $304,000. Sounds like he’s planning to exit? But take a look at his core position—he’s still holding 50,001 ETH long contracts, worth $156 million, with an average entry price of $3,048.56, and an unrealized profit of $3.96 million.

The reduction ratio is only 8.2%. That number speaks volumes.

A true expert never goes all in, nor do they liquidate everything in one go. Their strategy is: pocket short-term profits first to avoid unpredictable volatility risks; meanwhile, retain the main position to continue betting on mid- to long-term trends.

Rather than being a bearish signal, this move is more of a classic “balanced offense and defense”—not missing out on possible future gains, while not exposing themselves to excessive risk. Judging by the position structure, he still has strong confidence in ETH.