According to crypto analyst EmberCN, a whale or institutional investor who has accumulated profits of approximately $93.74 million through ETH swing trading has recently significantly increased its holdings during the ETH pullback. Over the past two days, after transferring USDC to platforms such as Coinbase, Wintertermute, and FalconX, it withdrew approximately 25,004 ETH (worth about $82.6 million), with an average purchase price of approximately $3,304. EmberCN points out that this address typically holds its coins for short periods, selling in batches every $100-$200 increase in ETH price. Therefore, it is less likely to be trapped during a downtrend, but it often misses out on larger gains due to selling too early. For example, it previously bought over 100,000 ETH at around $2,500, selling them off at an average price below $3,000, after which ETH subsequently rose to over $4,000.