Ethereum Whale Dumps $16.8M in ETH as Analysts Spot Bullish Reversal Signals

Getting your Trinity Audio player ready...

Ethereum is under intense selling pressure as long-term whales offload millions in ETH, even amid a modest market recovery. Over the past three days, Ethereum’s price has rebounded over 13% from a low of $1,400 to hover around $1,612. However, this recovery hasn’t stopped veteran holders from adopting a “sell-on-rise” strategy, signaling shaky investor confidence.

One notable transaction fueling market chatter involves a dormant Ethereum whale who unloaded 10,702 ETH—worth approximately $16.86 million—at a price of $1,576 per token. According to Etherscan data, this wallet had acquired the ETH back in 2016 when the token was trading at just $8. Despite ETH hitting highs of over $4,000 in late 2024, this whale remained inactive until now, sparking speculation about the motive and timing of the sale.

Adding to the pressure, Donald Trump’s DeFi venture, World Liberty Financial, has reportedly joined the wave of ETH sell-offs during this turbulent period. While Trump’s recent 90-day tariff delay has provided some relief to traditional markets, the crypto space remains riddled with uncertainty.

Yet, not all signals are bearish. Crypto analyst Ali Martinez believes the current capitulation by long-term holders presents an accumulation window for contrarian investors. Martinez highlighted favorable risk-reward dynamics, suggesting that current price levels may be attractive for new market entrants.

Technical analysis is also offering hope. Prominent trader Luciano_BTC pointed out a falling wedge pattern on Ethereum’s price chart—a structure often seen before bullish reversals. If Ethereum breaks above the trendline, it could trigger a rally, especially as daily trading volumes have surged 36% to over $35 billion.

Furthermore, bullish momentum may be supported by regulatory tailwinds. The U.S. SEC’s approval of options trading for spot Ether ETFs is seen as a significant step toward institutional adoption, potentially injecting fresh capital into the ecosystem.

Also Read: Ethereum Whale Dumps $15.7M in ETH: Is a Deeper Correction Ahead?

While short-term sentiment remains cautious, technical patterns and macro developments hint that Ethereum could be gearing up for a major breakout.

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.