ETH under additional pressure

Today, Ethereum co-founder Jeffrey Wilke transferred $262 million worth of Ethereum from his personal wallet to the Kraken exchange.

Although he returned the coins shortly afterward, the mere fact of the transfer has already negatively impacted the local price of the asset. Here's why:

For most market participants, such a move is perceived as preparation for a sale—especially given the large amount and the owner's status. This usually triggers:

🟢panic among retail investors;

🟢algorithmic sell-offs.

Even without an actual sale, the pressure on the price increases. ETH has declined despite the return of the coins. The market reacts to perception rather than facts. Under these conditions, further declines are possible if the tension persists.