Death and injury? Two major ETH bulls have consecutively surrendered.

1. Rumors say that Trump’s youngest son Byron and the 10.11 insider whale had nearly 600 million in orders blown up by the main force this morning, with the price hitting below 2280 and liquidation occurring. Currently, all assets worth 200 million have been wiped out.

2. Figure 2: Yili Hua is also not optimistic. With a 1 billion principal and 2x leverage, the position is 2 billion. Now, the principal has shrunk to 500 million. If ETH drops to 1866, his position will start to be liquidated.

3. Due to the precise blow-up of the 10.11 insider whale by the main force last night, Yili Hua is now panicking. He just conducted multiple on-chain operations, notably transferring 10,000 ETH to Binance, seemingly to cut losses and add margin.

4. No choice—Boss Yi’s average entry price with 2x leverage is 3100. Now that it’s fallen to 2200, he can’t hold on anymore. If the market hits another blow, he might be finished. If Yili Hua decides to sell all his ETH worth over 1 billion, it will cause ETH to drop again.

5. However, he hasn’t sold in large quantities yet, probably waiting for a rebound to quickly run away. It’s uncertain whether the whales will give him a chance to escape. The bottom of this bear market might only come after Yili Hua and the funds surrender, similar to the 18 billion Three Arrows Capital liquidation in 2022. The glory of the bull market seems like a fleeting cloud, and the harsh winter of the bear market has just begun...