According to EmberCN, the whale nemorino.eth, previously bearish on ETH, has started buying back ETH, purchasing 3,000 ETH for 571.8 million USDC at a price of $1,906 two hours ago. This move comes after selling 10,828.5 ETH at $2,586 in early February to deleverage, anticipating a price drop, which subsequently saw ETH fall to $1,800.

According to Edward Dowd, despite the market being only 6% down from its highs, there's notable deleveraging occurring in long/short hedge funds. The 6-month momentum factor has lost over 2 years of gains in just 13 days, indicating a rapid shift in market dynamics.

According to IntoTheBlock, short-term traders’ account balances have dropped to levels not seen since October 2024, indicating significant deleveraging in the cryptocurrency markets. This on-chain metric suggests a reduction in speculative positions, potentially stabilizing the market for future upward movements.

According to @glassnode, memecoins PEPE, BONK, and WIF have experienced significant deleveraging with PEPE reducing by 71.93% from $1.25B to $351M, BONK by 75.10% from $715M to $178M, and WIF by 69.83% from $653M to $197M. The open interest (OI) in these assets has cooled off following previous speculative peaks, indicating a substantial reduction in leveraged positions.

According to @EmberCN, whale nemorino.eth sold 10,828.5 ETH for $28 million USDC to repay a loan on Aave, with an average selling price of $2,586 per ETH. After clearing the debt, the whale still holds 8,833.4 ETH valued at $23.26 million. Such deleveraging by a whale is typically seen as a bearish signal.