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The price of Ethereum 
$2,643 has dropped to around $2,000 amidst prevailing market uncertainty. During this decline, a significant Ethereum whale was identified as executing a large volume sale. Analysts report that these transactions have exerted pressure on market sentiment, prompting warnings regarding the potential impacts of this substantial sale.
Whale Sells 40,000 ETH
According to on-chain data, a leading Ethereum whale offered 40,000 ETH to the markets. The total volume of Ethereum sold is estimated at approximately $89.9 million. This whale acquired the asset following the Genesis Trading case last August, with the recent sale representing about 30% of their Ethereum holdings.
The sales were executed in over-the-counter (OTC) markets. Such large-scale transactions can directly affect market volatility. The significant selling activity by whales may induce anxiety among market participants.
Noteworthy Analyst Evaluations
Market analysts have assessed Ethereum’s price movements based on historical data. Analyst Benjamin Cowen noted that the current price trends resemble those observed during previous periods of monetary tightening by the Federal Reserve.
Cowen stated, “This cycle closely resembles price movements seen during earlier QT (quantitative tightening) phases. However, this time the tightening period may last longer.”
CryptoQuant data indicates that Ethereum whales have entered a downward trend in their unrealized profit ratio. There is a continuous decline in the ETH/BTC ratio, contributing to a negative market perception.
On-chain data from the past two weeks shows that investors have transferred over 60,000 ETH. The significant movement of Ethereum indicates that pressure in the markets may persist. In this uncertain environment, the future direction of Ethereum’s price remains a point of curiosity.
