In the past 48 hours, 26,182 ETH (equivalent to 93.66 million USD) have been transferred to exchanges by whales, raising concerns about short-term selling pressure. This occurs as the ETH futures market is overheated, with large leveraged positions concentrated around the 3,400–3,500 USD range.
Highlights:
Increased selling pressure: Large ETH transfers to exchanges trigger fear and defensive sentiment, especially as the Spot Taker CVD shows sellers are dominant.
Liquidation risk: High funding rates and increased leverage raise the risk of cascading liquidations if technical support is broken.
Key support: The 3,458–3,490 USD range is a critical boundary; if breached, the price could fall to 2,900 USD according to technical patterns.
Market sentiment: Although 92% of ETH wallets remain profitable, wallets at breakeven are close to support – a price breach could trigger a large-scale sell-off.
Whale activity is unstable: Whale capital flows fluctuated sharply this week, surging 8,294% in 7 days but dropping -2,854% over the 90-day period, indicating a rapid rotation and profit-taking strategy.
Short-term scenario:
Positive: If the 3,458 USD level is successfully defended, ETH may recover as buying pressure returns.
Negative: If support is breached, the downward trend could pull ETH back to the 2,900 USD level with an increased risk of a sell-off.
Recommendation for traders:
Closely monitor whale cash flows and futures market volatility.
Avoid high leverage and set clear stop-losses below support levels.
Prioritize updating data from on-chain platforms like CryptoQuant, TradingView, IntoTheBlock.
Long-term remains positive: Despite short-term volatility, Ethereum remains a pillar of the Web3 ecosystem. However, investors need to be patient and manage risks tightly before adjustments due to whale behavior.