A large-scale investor, identified by the address prefix 0x4ED, has been systematically liquidating positions involving cyclical loans to accumulate crypto assets. The entity has recently cleared a significant portion of its portfolio, realizing substantial losses. Initially, the wallet cleared approximately 17,497 to 18,517 ETH, incurring losses estimated between $18.4 million and $25.29 million depending on the specific timeframe analyzed. Following the Ethereum exit, the whale shifted focus to its Wrapped Bitcoin (WBTC) holdings. In the past week, the entity sold 350 WBTC at an average price of $87,732. Most recently, on-chain analysis detected a further sale of 100 WBTC (approximately $9.13 million), realizing a loss of $2.5 million on that specific tranche. Despite these heavy sell-offs, the wallet continues to hold 1,210 WBTC, valued at roughly $110 million, which remains in a floating loss position. [Update 1] New on-chain data confirms the whale (0x4ED) sold an additional 100 WBTC for $9.13 million, realizing a $2.5 million loss. This adds to the previous ETH clearance of ~17.5k ETH (approx $18.4M loss). The entity still holds significant WBTC reserves ($110M), posing potential ongoing sell pressure.