According to on-chain analysts, a whale who spent $25.33 million to hoard 8,010 ETH at a price of $3,163 each in September last year chose to liquidate at a loss after holding for five months: they sold all 8,074 ETH for $19.60 million USDC at a price of $2,427 each eight hours ago, resulting in a loss of $5.73 million. If this whale had bought BTC instead of ETH last year, they would now have made a profit of $7.45 million.