Bitcoin Whale Sell-Off Hits Market; ETH & SHIB Resist
Bitcoin whale sell-off at a 122,000 USD peak triggered a sharp downturn, dragging the market lower. A single whale moved 16,843 BTC to an OTC desk, sparking defensive selling and causing prices to drop by around $6,000 per coin. Support at $111,000 held initially, but a full liquidation could test the $107,000–$110,000 zone. Traders should monitor Bitcoin whale sell-off alerts and OTC flows closely for fresh volatility.
Meanwhile, Ethereum’s earlier rally on Shanghai upgrade optimism paved the way for an 8% jump above $3,200 as staked ETH withdrawals unlocked liquidity. However, ETH recently failed to sustain a break above the $3,000 psychological level, retracting to $2,980 with the RSI near overbought and key EMAs at $2,587 (50-day) and $2,474 (200-day) offering support. A decisive close above $3,000 with strong volume is needed for a resumed uptrend.
Shiba Inu’s rally also stalled at its 200-day EMA around $0.000013, reversing on high volume in a classic liquidity grab. Without a confirmed close above $0.0000122, SHIB risks a deeper drop toward $0.000011. Traders should watch on-chain metrics, whale movements, and key technical indicators for entry signals and manage risk amid ongoing market swings.
Bearish
The Bitcoin whale sell-off directly triggered a sharp price decline, undercutting key support levels and elevating volatility. Ethereum’s initial upgrade-driven rally lost momentum at the $3,000 resistance, while Shiba Inu stalled at its 200-day EMA, signaling distribution. In the short term, these technical barriers and large-scale liquidations are likely to keep downward pressure on prices. Over the longer term, sustained resistance and cautious trader sentiment may delay any major recovery until clear breakouts occur alongside strong volume, making the overall market outlook bearish.