Merissa Verant BSjC

#WhaleDeRiskETH The whales are reducing the risk of $ETH — This is what it means 🐋 Many people are noticing that large holders of ETH are reducing their exposure at this time. Before panicking, it's important to understand why whales reduce risk. Most of the time, it's not because they are "bearish forever." It's because they are managing risk. Common reasons why whales reduce risk 👇 • Securing profits after strong moves • Reducing exposure before important macro events • Preparing liquidity for future opportunities • Covering uncertainty around rates or regulations In other words: This is often about positioning, not fear. 📌 Smart money adjusts first. Retail reacts later. What matters now is the context: • Are they selling into strength? (healthy) • Or unwinding into weakness? (warning sign) So far, it seems more like a controlled trim than panic. That suggests caution, not collapse. Bigger picture: The fundamentals of ETH haven't changed overnight. This is about timing, not beliefs.