$ETH
🧵 Ethereum Whale Panic? 5,000 ETH Dump Sparks Capitulation Fears
🚨 A whale just transferred 5,000 ETH (~$12M) to Binance, triggering sell-off alarm bells across the crypto space.
🔎 Lookonchain flagged the move, which hit right before ETH dipped to $2,240, suggesting panic-driven selling.
Such large transfers often precede heavy dumps—and this one was no exception.
📉 The fallout?
$300M+ in ETH liquidations (per CoinGlass)
ETH down 8% this week, underperforming majors
Total crypto liquidations: $712M in 24h
🧊 While ETH sank, BTC held steady, pushing dominance higher. The ETH/BTC ratio still floats above 0.017, but the capital rotation toward BTC is evident.
📊 At the same time, ETH futures open interest hit a record $20B—amplifying risks of cascading liquidations. Leverage cuts both ways.
📉 “Credible Crypto” warns a break below $2,240 could target $2,000–$2,100 next.
🤔 Not all whales are selling: a separate 48,825 ETH buy (~$127M) shows some are buying the dip. But the scale and timing of this latest move points more to capitulation than accumulation.
🔍 What Traders Should Watch:
Exchange inflows/outflows
Liquidation volumes
Spot ETF inflows or institutional buys
⚠️ With leverage peaking and fear rising, volatility may spike. Stay sharp.
