Ethereum Whales Dump 5,657 ETH, Realizing $1.9M Loss Amid Market Downturn
On-chain data shows three major Ethereum whales offloaded 5,657 ETH (about $13.4 million) within seven hours, realizing a combined loss of $1.93 million. Whale 0xb1c sold 1,440 ETH at an average price of $2,392 (acquired at $3,359) after a six-month hold, incurring a $1.39 million loss. Address 0x4F1 dumped 2,716 ETH at $2,301 (bought at $2,422) for a $330,000 short-term loss, while 0xF89 exited 1,501 ETH at $2,392 (acquired at $2,529) suffering a $206,000 loss. This intensified sell-off by Ethereum whales highlights growing risk-off sentiment and increased selling pressure amid the recent market downturn. Traders should monitor on-chain metrics and whale behavior, as such large transfers may exert short-term bearish pressure on ETH price and influence market sentiment.
Bearish
This significant Ethereum whale sell-off increases short-term supply and underscores growing risk-off sentiment among large holders, likely exerting downward pressure on ETH price. In the near term, the market may react with heightened volatility as traders digest on-chain metrics and whale behavior. Over the longer term, continued whale selling could signal persistent bearish sentiment, though a shift in on-chain accumulation patterns or macro catalysts may alter this trajectory.