Vitalik Sells $14M ETH as Ethereum Hovers Near $1,900
Ethereum traded near $1,900 as co-founder Vitalik Buterin sold roughly $14 million worth of ETH and WETH across multiple transfers. The sales occurred amid continued net outflows from spot Ethereum ETFs — $80.79 million on Feb. 5 — and broader crypto selling that pushed Ether down about 25% over the prior week. At the time of reporting ETH was near $1,970 with technicals showing the RSI around 41 (approaching oversold) and Chaikin Money Flow slightly negative. Key technical levels cited: support near $1,900–$1,950 and resistance near $2,225 and $2,400. Market commentary noted that founder-linked transfers attract attention but represent a small portion of circulating supply; prior Buterin movements have included donations and operational funding and no official reason for these sales was given. Traders are watching ETF flows, on-chain activity, and price action within the current range for clues on short-term direction.
Neutral
The classification is neutral because the factors in the report pull in both bearish and stabilizing directions. Bearish elements: Vitalik’s $14M sales and $80.79M of spot ETH ETF outflows coincide with a recent ~25% weekly drawdown, which can increase short-term selling pressure and negative sentiment. Stabilizing/balancing elements: the sales amount is tiny relative to Ethereum’s total market cap and circulating supply, and price has shown signs of holding above the key $1,900 support with RSI near 41 suggesting limited immediate downside and potential for a rebound. Technical levels (support $1,900–$1,950; resistance $2,225–$2,400) create a defined trading range where liquidity and ETF flows will likely determine direction. Historically, founder or whale sales often trigger short-term volatility but rarely change long-term fundamentals unless sustained or linked to adverse news; previous Vitalik transfers have included non-market motives (donations, funding). For traders: expect elevated volatility and watch ETF flow data, on-chain large transfers, and intraday volume. Short-term impact: likely bearish-to-neutral (pressure and volatility). Long-term impact: limited unless ETF outflows persist or on-chain selling accelerates materially.