Ethereum ($ETH ) Whales Trigger Market Jitters with Massive $93.66 Million Sell-Off Across Major Exchanges

#Ethereum (ETH), the world’s second-largest cryptocurrency by market cap, is under pressure as whale activity has sparked alarm across the market. Over the past 48 hours, large holders have moved a staggering 26,182 ETH—valued at approximately $93.66 million—onto centralized exchanges including #Binance , #Kraken , #OKX , and #Bybit .

Each transfer ranged between 1,000 and 2,000 ETH, flooding liquidity pools and intensifying concerns among traders and investors.

This surge in whale inflows coincides with broader market turbulence, raising questions about whether these large holders are preparing for further price declines or simply locking in profits at recent highs.

Spot Sellers Dominate as Derivatives Market Overheats

Bearish momentum appears to be gaining traction across both spot and derivatives markets. According to on-chain metrics:

The Spot Taker Cumulative Volume Delta (CVD) indicates a Taker Sell Dominant trend, meaning sellers are consistently overpowering buyers on centralized exchanges. This aligns with the whale transfers, suggesting large sell orders are hitting the market.

Meanwhile, CryptoQuant’s Futures Volume Bubble Map signals multiple areas of excessive leverage building around ETH’s $3,400–$3,500 price range.