On-chain data captures a typical case: Address 0x074…9B748 completed a full cycle of emotional trading within the past 48 hours.

Specifically, this address hastily sold 3,296 ETH at the bottom (equivalent to approximately $10.3 million), fully clearing its position. The final profit from the trade was only $292,000.

The ironic part is—just two days before the clearance, the floating profit on this position had reached $1.266 million. In just 48 hours, the paper profit dropped from over $1.2 million to $300,000, causing a mental breakdown.

Stories like this are actually playing out repeatedly in the market. Whenever market volatility intensifies, a large number of holders are scared out at the bottom. They are often not lacking in position size, but lacking persistence. Those who survive the fluctuations are never the amount of ETH in their accounts, but the patience to wait.