Ethereum Faces $570M Net Sell-Off, Rebound in Doubt
Ethereum (ETH) futures markets are under pressure after a new wave of aggressive selling created a $570 million net imbalance favoring sellers. According to analyst Maartunn, this level of ETH sell-off has historically appeared near local tops, suggesting profit-taking and a potential price reversal. Over the past week, ETH has lost 2.12% of its value, and in the last 24 hours it plunged from $4,484.36 to a low of $4,258.05 before settling around $4,294.00—a 2.78% decline. Trading volume also slipped 0.6% to $35.91 billion, indicating cautious investor behavior.
Despite bearish momentum, two bullish signals offer support. First, an on-chain transfer of 60,000 ETH to a Binance Beacon Chain staking address signals confidence in future gains, as holders lock assets to earn rewards. Second, an investment firm linked to Alibaba founder Jack Ma labeled its recent ETH purchase as a “reserve asset,” underscoring institutional interest. Traders should watch short-term downside risk while monitoring these on-chain and institutional cues for potential market stabilization.
Bearish
The $570 million net sell-off in ETH futures marks a significant bearish imbalance. Historically, such aggressive selling has coincided with local tops and early warning signs of pullbacks. Recent price declines of over 2% in 24 hours and slipping trading volume reinforce short-term bearish momentum. While on-chain staking flows and institutional purchases provide counterweights, traders are likely to remain cautious until the selling imbalance dissipates or is offset by stronger bullish catalysts. In the short term, ETH may continue to test support levels; long-term trends will hinge on sustained institutional inflows and broader market sentiment shifts.