Two ETH Whales Dump 6,239 ETH, Realize $3.3M Loss
Two recent ETH whale sales have increased market pressure. On October 24, address 0x12d0 executed an ETH whale sale of 4,708 ETH, realizing a $2.67 M loss after a two-month hold. Shortly after, address 0x248...87976 conducted another ETH whale sale, offloading 1,531 ETH at $3,691 each and incurring a $617 K loss after just two weeks. Combined, these whales dumped 6,239 ETH, realizing about $3.3 M in losses. This pattern of high-price buying followed by loss-making selling signals growing short-term selling pressure on Ethereum. Traders should monitor on-chain data and whale movements for potential volatility and short-term trading setups.
Bearish
These sizable ETH whale sales at a loss indicate growing selling pressure on Ethereum. The two whales offloaded 6,239 ETH and realized $3.3 M in losses, likely prompting cautious trader sentiment and short-term downward momentum. Historical patterns show that large loss-making dumps by whales often lead to elevated volatility and continued bearish bias until demand returns. Traders monitoring on-chain whale activity and price levels may find short-term trade setups amid this bearish pressure.