According to on-chain data analysis, a whale that has been accumulating Ethereum since September 2020 has recently begun to take significant profits. This Address accumulated 39,546 ETH at an average cost of $906.5 and has sold 11,185 ETH in the past two weeks, expecting to realize a profit of approximately $31.35 million.

Recent developments indicate that the Address has transferred 5,000 ETH to Binance exchange in the last 6 hours, while also submitting a redemption request for 6,383 ETH to Lido. This series of actions has raised market concerns about the possibility of a large-scale sell-off.

This behavior pattern may indicate that long-term holders are beginning to adopt a cautious attitude towards the current market conditions. However, it is worth noting that such large transactions often have an impact on market sentiment and short-term price trends.

Although the behavior of a single Address does not fully represent the overall market trend, it does provide us with a window to observe changes in the mindset of long-term investors. Market participants should closely monitor similar large transfers to better grasp market movements and potential price pressures.

As the cryptocurrency market continues to evolve, this detailed on-chain data analysis is becoming increasingly important, providing valuable reference information for investment decisions.