9-Yr ETH Whale Sell Add 4,723 ETH for $4,141
Yu Jin do one on-chain analysis wey identify say one big ETH whale buy 14,945 ETH 2016 for average price $7.7. Dis whale start to sell first time December 2024, sell 7,808 ETH for $4,005 and get 31.27 million USDT. E still do one more sale like 3 hours ago, sell 4,723 ETH at $4,141. Dis kain big sales from long-term ETH whale mean say dem dey take serious profit and e fit bring short-term sell pressure for market, wey go fit reduce di bullish momentum even though people still demand Ethereum well well.
Bearish
Large-scale whale sell-offs don dey historically increase short-term supply, wey dey make price go down. For December 2024, one kain whale sale for ETH wey pass $4,000 cause small pullback before market stabilise. This kain fresh profit-taking fit make traders start to liquidate dem positions, wey go strengthen bearish feeling near term. But since di whale sell at strong price and keep profit, fundamental demand for Ethereum fit reduce serious sell-offs for long term, fit balance market again and give buying chance once sell-off slow down.