A certain PUMP private whale sold over half of their position, with a total loss of approximately $10.3 million.

Seeing this resonated with me.
Last year, I also invested in a private fund, and once the lock-up period was over, I absolutely refused to sell.
Every day I told myself "wait until I break even before selling."
The more I waited, the deeper I got, and in the end, I cut at the bottom.
This PUMP whale is similar.
Not moving for 8 months shows they truly believe.
But the market doesn't give face, and in the end, they still cut.
A loss of $10.3 million sounds exaggerated,
but essentially, it's the same psychological state as losing $50,000 —
can't take it anymore.
Many people think big investors don't feel pain, but actually, the more money they have, the greater the pressure.
Especially when the account shrinks by hundreds of thousands every day.
The market never cares about sentiment.