According to Lookonchain, prominent Ethereum holder '0x31aa' sold another 5,000 ETH, worth approximately $12.11 million, within the last four hours as ETH prices continued to decline. This large-scale liquidation indicates heightened selling pressure and possible panic among early investors, which could accelerate downward momentum for ETH in the short term. The whale still retains 5,000 ETH, valued at about $12.09 million. Traders should monitor on-chain activity and large wallet movements closely, as further sales could drive increased volatility and affect ETH support levels. (Source: Lookonchain, June 21, 2025)