According to @EmberCN, a whale/institution accumulated 60,333 ETH between Sep 20–26 for 257 million USDC at a $4,256 average, with executed tranches of 16,569 ETH at $4,484 (Sep 20), 20,000 ETH at $4,298 (Sep 22), 13,764 ETH at $4,133 (Sep 25), and 10,000 ETH at $3,965 (Sep 26), source: @EmberCN and Arkham Intelligence address https://intel.arkm.com/explorer/address/0x2aAF355c820676C104bd00Ee6c506FA05998dDa2. The position currently reflects an unrealized loss of about $20 million versus spot at the time of reporting, source: @EmberCN. In June, the same address bought 132,000 ETH at a $2,540 average by deploying roughly $330 million and later began taking profits above $2,600 with an approximate average sale price of $2,923, realizing about $50 million in profit, source: @EmberCN and Arkham Intelligence address https://intel.arkm.com/explorer/address/0x2aAF355c820676C104bd00Ee6c506FA05998dDa2. Traders can reference the whale’s fresh cost band at $3,965–$4,484 and the $4,256 breakeven as liquidity zones derived from executed fills, source: @EmberCN and Arkham Intelligence address https://intel.arkm.com/explorer/address/0x2aAF355c820676C104bd00Ee6c506FA05998dDa2.