Ethereum Whale Deposits and ETF Outflows Pressure ETH

Reports describe large Ethereum transfers to Kraken, though their figures and wallet histories differ. An earlier report said a long-term holder deposited 3,000 ETH, worth about $7.23 million, after acquiring it roughly nine years ago at around $18.83 per coin. A later report cited a 7,594 ETH deposit, worth about $17.79 million, from an investor reportedly inactive for a year who bought 200,000 ETH in Ethereum’s initial coin offering for about $62,000. The deposits may signal plans to sell, but neither confirms that a sale took place. Ethereum was trading near $2,340–$2,400 in the reports. The later update highlighted pressure from US spot Ethereum ETF withdrawals, including $60.2 million in net outflows on October 27 and about $1.26 billion in October outflows through October 26. In contrast, wallets holding 1,000–10,000 ETH reportedly accumulated around 40,000 ETH over the previous week. The earlier report also noted that the broader market was relatively flat and that the whale transfer was not proven to have caused ETH’s price movement. Traders are watching support around $2,310–$2,328, with a sustained break potentially exposing $2,256 and $2,204. The earlier report identified $2,350 as support and $2,500–$2,550 as resistance; the later update said reclaiming $2,362 and then $2,444–$2,453 could improve recovery prospects. A Federal Reserve meeting was also cited as a potential catalyst in the earlier report. With no confirmed sale, the transfers add a possible source of supply, while ETF outflows and large-wallet accumulation offer competing signals for Ethereum traders.