The spot market has recorded several notable transactions that indicate increased caution among certain whales. An Ethereum<\/a> trader who purchased 6,028 ETH<\/strong> during the October 11 crash<\/strong> at $3,638<\/strong> per coin has liquidated their entire position during the rebound. They sold for $22.26 million in USDC<\/strong> at an average price of $3,587<\/strong>, taking a loss of $320,000<\/strong>.<\/p>\n\n\n\n This decision reveals a defensive approach amid market uncertainty. Rather than maintaining a position hoping for a stronger rebound, this trader preferred to limit losses and preserve capital. This behavior suggests that not all large holders share a bullish outlook<\/strong> in the short term.<\/p>\n\n\n\n Owen Gunden, an early Bitcoin investor, has also significantly reduced his exposure. He transferred 500 BTC<\/strong> to Kraken<\/a> on Saturday, worth $51.68 million<\/strong>, then an additional 600 BTC<\/strong> the following day for $61.17 million<\/strong>. Despite these massive outflows, he still holds 6,050 BTC<\/strong> valued at $618.78 million<\/strong>, indicating a strategy of partial profit-taking<\/strong> rather than a complete exit.<\/p>\n\n\n\n While some were reducing their positions, others were quietly accumulating. Two new wallets withdrew approximately $2.9 million in LINK<\/strong> from Binance<\/a> over three days, totaling 187,500 tokens<\/strong> at an average price of $15.5<\/strong>. This fresh accumulation of Chainlink<\/a> reveals confidence in the asset’s potential during the recovery phase.<\/p>\n\n\n\n