Unknown Hacker Sells 6,845 ETH at $8.9M Loss
On-chain analysis shows an unknown hacker has liquidated large Ethereum positions this month. On October 13, the hacker sold 4,190 ETH within 15 minutes at an average price of $3,840.47, incurring a $264,000 loss versus an average cost of $3,903.68 per ETH. From October 21 to 23, and over the past 10 hours, they offloaded another 2,655 ETH at $3,740.78, realizing a $758,000 loss against a $4,026.58 entry price. The total value of the latest sale was around $9.93 million. Cumulatively, October trading has led to roughly $8.88 million in realized losses and contributed $3.51 million in losses from price swings. The hacker still holds 3,965.36 ETH with an unrealized loss of $692,000. Such large-scale sell-offs can pressure Ethereum prices in the short term. Traders should watch for similar ETH liquidations, which can increase volatility and signal cautious market sentiment.
Bearish
The large-scale liquidation of Ethereum by an unknown hacker is likely to exert short-term downward pressure on ETH prices. Such substantial sell-offs increase market supply and can trigger further liquidations or stop-loss orders from other traders. In the long run, Ethereum’s deep liquidity may absorb these volumes, but persistent whale activity at a loss can signal cautious sentiment. Traders should remain vigilant for potential rebounds once the selling pressure subsides, yet expect continued volatility in the near term.