Ethereum Falls Below $3200 as Whales Move—Liquidation Risks and the Reality of Unrealized Losses

The price movement of Ethereum is directly impacting market participants' assets. When ETH drops below $3200, the actions of large position holders become evident.

**Whale Liquidation Activities and Growing Losses**

A major address disposed of 2,100 ETH, incurring a loss of approximately $130,000 in the process. The background to this settlement appears to be a market environment where maintaining positions has become difficult. The liquidation trigger for the relevant long position is set at $3193.9, and at the current price level, forced liquidation could occur at any time.

**Risk Assessment of Remaining Positions**

Most notably, this investor still holds 9,000 ETH. In the current market environment, unrealized losses on this position have already expanded to $630,000. Without a short-term rebound, further liquidation pressures could ripple through the entire market.

**Market Implications**

The actions of large players often trigger price fluctuations in low-liquidity environments. As ETH continues to hover around $3200, such liquidation events could increase volatility. For individual investors, it is crucial to closely monitor support and resistance levels during this phase.