Update: On February 20th, CryptoQuant analyst Darkfost noted that Ethereum whales are facing pressure, with the ongoing ETH pullback impacting all investors. Right now, the unrealized profit/loss (P/L) for these whales has flipped negative: - Holders of 1,000–10,000 ETH: -0.21% - Holders of 10,000-100,000 ETH: -0.18% - Holders of 100,000+ ETH: -0.08% Should ETH extend its decline, these whales could face mounting pressure - and may even be forced to capitulate by offloading large positions. That said, ETH is still holding steady in a critical range; historically, similar pressure periods have often coincided with the formation of mid-term bottoms.