Ethereum (ETH) has entered a phase of heightened volatility after climbing to a local high of $2,800 last week. Over the past seven days, ETH has traded within a descending channel, hitting a recent low of $2,300—reflecting intensified downside pressure.
This correction was no surprise to seasoned market watchers. The price action stalled as profit-taking surged, with ETH moving in an increasingly narrow range. As conviction among holders waned, selling activity accelerated.
$321 Million Sell-Off in One Minute
According to Maartun, an analyst at CryptoQuant, Ethereum saw a dramatic surge in selling pressure in recent sessions. Taker Sell Volume across all exchanges spiked by a staggering $321.3 million in a single minute—far from a routine dip.
Ethereum Sell Pressure Spikes 🚨
— Maartunn (@JA_Maartun) June 20, 2025
Taker Sell Volume across all exchanges has surged to 321.3M USD in just 1 minute. pic.twitter.com/60kQZgiTJn
Such a spike indicates broad sell-side aggression, with both whales and retail traders contributing to the flow. In total, ETH recorded $10.3 billion in Taker Sell Volume before easing back to $839.6 million, signaling a clear wave of fear-driven or profit-taking trades.
Whale Activity: 1.2 Million ETH Sent to Exchanges
Adding to the bearish sentiment, Ethereum’s Exchange Inflows spiked sharply—1.2 million ETH moved to exchanges, largely driven by whale wallets.
Data from IntoTheBlock shows whales sold approximately 519,000 ETH, while buyers absorbed around 471,000 ETH. The resulting negative Large Holders Netflow of -48.75K ETH suggests that major players were offloading faster than buyers could absorb.
Combined with elevated Taker Sell Volume and rising exchange inflows, the negative Netflow paints a picture of strong bearish sentiment—at least in the short term.
Buyers Step In: A Potential Tipping Point?
Despite the aggressive sell-off, ETH has shown resilience. After briefly sliding to $2,300, the cryptocurrency bounced back to around $2,424 at the time of writing. CryptoQuant data now shows a negative Exchange Netflow, with outflows surpassing inflows by 3.4K ETH—a bullish indicator, suggesting dip-buying interest is emerging.
However, the market remains at a critical juncture. ETH has returned to a consolidation zone, with bulls and bears locked in a short-term tug-of-war.
For Ethereum to regain bullish momentum, bulls need to defend current levels and push the price back above $2,575. Failing that, if sellers regain control, ETH risks another drop toward $2,350.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
Also Read: Ethereum Whale Accumulation Hints at Rally
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