ETH Whale Sells 1300 ETH, $597K Loss; 1355 ETH Remain
An on-chain analysis reveals a major ETH whale (address 0x69b...0e378) sold 1300 ETH ten minutes ago, realizing a $597,000 loss. The whale had initially accumulated 2655 ETH between October 14 and 18 at an average price of $3,805.60. After the sale, the remaining 1355 ETH position is still underwater by $487,000. That batch previously saw peak paper gains of $2.142 million. This ETH whale’s loss-cutting trade coincides with recent market volatility. Traders should watch for further on-chain movements and potential selling pressure as the whale continues to unwind its position.
Bearish
A significant on-chain sell by a whale at a substantial loss typically signals bearish sentiment. This ETH whale’s exit at a $597K loss highlights reduced confidence and possible desire to limit further downside. Historical data shows that large-scale loss-cutting trades often precede additional selling, amplifying downward pressure in the short term. For example, when whales sold ETH at a loss during mid-2023 market dips, prices fell over 5% in subsequent days. While long-term ETH fundamentals remain intact, near-term momentum may weaken until this whale’s remaining 1355 ETH position is reduced or market sentiment stabilizes. Traders should monitor whale addresses and overall on-chain flows to gauge whether selling pressure persists or if opportunistic buying emerges.