Analyst Darkfost posted on the X platform that the unrealized profit margins for all levels of ETH whales have now turned negative: - Whales holding 1,000 to 10,000 ETH: -0.21 - Whales holding 10,000 to 100,000 ETH: -0.18 - Whales holding more than 100,000 ETH: -0.08 This situation has occurred even though the ETH price has not yet hit the lows of April. If the ETH price falls further, these whales may face significant pressure or be forced to liquidate and sell off large positions. Currently, the ETH price is stable, and periods of pressure for large holders typically coincide with the formation of medium-term bottoms.