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- A whale withdrew 8,313 ETH, signaling strong accumulation and reduced selling pressure.
- Despite whale activity, ETH struggles below $2K as bearish sentiment persists.
- Institutional investors remain cautious, with selling pressure outweighing new buyer demand.
Ethereum continues to struggle as traders debate the next move. A whale recently withdrew 8,313 ETH, worth $16.46 million, from Binance. Large investors often move assets off exchanges to reduce selling pressure. This shift suggests confidence in future price gains. However, Ethereum remains under pressure as sellers dominate.
Whale Activity Hints at Accumulation, But Market Sentiment Stays Bearish
CryptoQuant reported a negative net flow of 150,000 ETH on derivative exchanges. Such outflows indicate reduced selling pressure and rising accumulation. Long-term holders often move assets to cold storage, expecting higher prices in the future. Onchain Lens tracked a whale wallet that became active after two months. The same address now holds 11,197 ETH, worth over $22 million.
This accumulation suggests a belief in a potential rally. Large investors tend to buy when prices seem undervalued, anticipating strong returns. Despite increased accumulation, Ethereum’s price struggles. The ETH’s Fund Market Premium stayed negative throughout the past week. Many traders are closing positions, showing hesitation in holding for the long term. Selling pressure remains strong, preventing a breakout.
Institutional Selling Keeps Ethereum Under Pressure
The price of ETH dropped below $2,000 again, reaching $1,963. Institutional investors remain cautious, with the Coinbase Premium Index at -0.05. This negative value signals active selling by large U.S. traders. Without stronger demand, Ethereum may continue trading sideways.
For a rally to begin, buying pressure must outweigh ongoing sell-offs. If more whales accumulate, confidence could return, pushing prices above key resistance. However, a lack of strong buyers may keep Ethereum trapped between $1,862 and $2,100.
Ethereum faces a tough battle between buyers and sellers. Whales continue accumulating, signaling confidence in future growth. However, strong selling pressure keeps prices from rising. A breakout remains uncertain unless demand increases.
