Significant ETH Sell-off by Whale to Repay Loans

According to @EmberCN, on July 5th, ETH dropped to $2,850, prompting a whale/institution to sell 36,000 ETH ($104M) for USDT to repay loans and avoid liquidation. Today, ETH fell another 8%, leading the same whale/institution to sell an additional 11,620 ETH ($36.77M) in the past 6 hours for the same purpose. This whale/institution now holds only 17,943 ETH, down from their June 25th holdings.