Ethereum Selloff Intensifies, but Whales Bet on Rebound - What's Next for $ETH ?
Ethereum ($ETH) is under pressure, trading below the $3,200 mark after an 8% drop on Friday, triggered by market-wide selloffs following the launch of DeepSeek AI. Panic selling over the weekend saw investors liquidate holdings, with $430 million in profits realized on Saturday.
Key Market Insights
Increased Selling Activity: Both short-term and long-term holders contributed to the selloff, as indicated by the Dormant Circulation metric.
Critical Support in Danger: $ETH is hovering
near the $3,000 support level, and a breakdown could trigger a 25% collapse.
Whale Accumulation: Despite the decline,
whales bought over 120,000 ETH in the last three days, signaling confidence in a potential rebound.
Derivatives Market Still Hopeful
Open Interest Surge: Ethereum futures saw
9.77 million ETH in open interest on Monday, suggesting that traders are betting on a swift recovery rather than capitulating.
What's Next for ETH?
If Ethereum fails to hold above $3,000, bearish momentum could accelerate, pushing prices toward $2,500. However, whale accumulation and growing interest in derivatives hint at optimism for a rebound.
Can Ethereum overcome selling pressure,or will it face a deeper correction? Share your thoughts below!