Analysts: ETH Whale groups have absorbed all market sell pressure in the past 30 days, but short-term Bull vs Bear Battle may intensify.

On August 9, on-chain data analyst Murphy published data on social media stating that the current ETH chip structure is "very healthy", while also showing a very obvious trend of "de-retailization". In the past 30 days: · The total holdings of the shark group (holding 100-1k ETH) decreased by 309,000 ETH · The total holdings of the whale group (holding 1k-10k ETH) decreased by 698,000 ETH · The total holdings of the giant whale group (holding 10k+ ETH) increased by 2.1 million ETH Murphy further stated that the increase in the number of giant whales not only completely covered the above two distribution market maker groups but also absorbed the chips thrown out by smaller fish and shrimp groups. Currently, the massive chips piled up in the $2,500-$2,800 range still show no obvious signs of reduction. With the increasing involvement of traditional capital, if this trend of giant whales accumulating continues, then ETH is bullish in the medium to long term. However, it is slightly dangerous for investors chasing the price. In the short term, the price of ETH and realized profit (RP) are forming a strong divergence. The underlying logic is that the high-profit long-term chips have reduced turnover, gradually shifting to short-term chips' Bull vs Bear Battle, resulting in a situation where the price is higher but realized profits are lower. The divergence of RP and the new high of OI are the most significant manifestations in the data after the intensification of ETH’s short-term Bull vs Bear Battle.