Etherium co-founder Jeffrey Wilcke has transferred 1,500 ETH, which is worth close to $6 million, to the Kraken crypto exchange.
The sale is in the midst of a massive plummet of the Ether value, which dropped to the range of 3,900, a 13% decrease in a week.
Wilcke’s Recent Transfers and Market Speculation
This is not Wilcke’s first transfer. In August of last year, he transferred ETH worth $9.22 million to Kraken and, in the past, $262 million as well. This could be speculative because some analysts assume that Wilcke might be getting ready to sell, since he has remarked that he will sell more in the future.
Jeffrey Wilcke, the Co-founder of #Ethereum, just deposited 1,500 $ETH($5.99M) into #Kraken.https://t.co/v8vvamvA0Xhttps://t.co/Kuuq94LDYI pic.twitter.com/nunSFyIj0l
— Lookonchain (@lookonchain) September 25, 2025
Nevertheless, other major market players have been purchasing ETH at these lower prices. At least 15 large wallets bought more than 406,000 ETH in the last two days, which amounts to approximately one point six billion dollars. These wallets took the coins supplied by Kraken, Galaxy Digital, BitGo, and FalconX. Nonetheless, there are also ETH addresses of whales that offloaded significant volumes of ETH, which added to the market volatility.
Market Sentiment and Whale Activity
According to recent data, there has been a significant outburst of net inflows to exchanges, which was 66.7 million on September 26, when ETH dropped to below 4,000. This steep inflow means that sellers are aggressively utilizing exchanges to dispose of their holdings rather than holding them. Consequently, there is increased anxiety that the pressure to sell ETH can be sustained in case the trend continues.
ETH Price key technical levels. Source: TradingView
Besides that, the technical composition of the market is bearish. Ethereum has fallen below the trendline that it was rising on since the price moved below the 4,200 mark and pushed important moving averages 20,50,100 EMAs into the 4,083-4,238 resistance. According to analysts, ETH has no chance to support the price at the $3,800 level; in the event that the digital currency fails, it might decline even more, and the decreased areas of liquidity at the levels of 3,500-3,400 are visible.
Technical Resistance and Future Outlook
Ether has severe technical opposition. Although underlying supportive conditions, such as increasing institutional investment and adoption of Layer-2, give the long-term bullish potential, short-term technical indicators reflect that there is still downside risk in the market. The Relative Strength Index (RSI) stands at 29, which means that the market is overtraded. Nevertheless, recovery bounces usually come prior to such conditions. The reverse of the trend requires ETH to regain major points of resistance, especially the 4,083 spot.
Ether has a problem with whales and the technical resistance in its price. The following few days will be critical in deciding whether the current bearish trend will continue or the buyers will get back into the market.
The post Ethereum Co-Founder Moves $6M in ETH, Causes 13% Drop in Price first appeared on Coinfea.
