Ethereum Crypto Risks Deeper Drop As Dormant ETH Whales Sell

Key Insights:

• Ethereum crypto faced pressure from dormant wallet selling.
• ETH crypto whales split between exits and accumulation.
• Traders watched support as bearish structure widened.

Eight-year-old Ether wallets moved coins for the first time since 2017, adding supply into a weak market. Ether traded just above $1,500 as large holders showed split positioning across exchanges. The sales raised pressure because long-term whale profitability had already fallen below zero.

The Ethereum crypto market entered the session with opposing signals from old holders and fresh buyers. Dormant wallets sold into weakness, yet separate whale activity showed capital rotation into Ether. That contrast left traders focused on support, liquidity, and whether forced selling had already peaked.

Ethereum Crypto Whales Split After Dormant Sales

Lookonchain data showed that long-dormant addresses moved 37,806 ETH after years of inactivity. Four wallets had received their coins nearly eight years ago at an average cost near $830. Those wallets held through two major bull cycles before they sold 33,623 ETH for about $52.5 million.

The sales cleared near $1,560 and produced roughly $27.4 million in realized profit. That outcome showed old holders still exited with gains, even after the broader drawdown. The timing mattered because these coins had survived earlier periods of higher unrealized value.

Lookonchain also tracked fresh buying by a separate whale. The address swapped 464 Bitcoin worth $27.6 million for 17,750 Ether. That trade suggested some large investors rotated capital from Bitcoin into ETH crypto exposure.

Investor Chun Wang also added 9,937 Ether and 147 wrapped Bitcoin. Over the past month, Wang withdrew almost 87,000 Ether from Binance at an average price of $1,749. That behavior pointed to accumulation rather than immediate exchange-side selling.

BlackRock transferred 41,996 Ether and 4,577 Bitcoin to Coinbase Prime. Market participants often view such moves as custody or operational activity. However, the transfer did not confirm a spot sale.

Ethereum Crypto Support Faces Technical Stress

Darkfost said major Ether whale groups had negative unrealized profit ratios. The analyst tracked holders from 1,000 Ether to over 100,000 Ether. That marked the first broad underwater reading since 2019.

The data showed pressure across every major whale cohort. It also suggested that older and larger holders no longer controlled comfortable unrealized cushions. As a result, the market became more sensitive to renewed exchange inflows.

Ether fell to $1,510 during Thursday’s sell-off, but it avoided a new yearly low. Bitcoin, by contrast, slipped to fresh 2026 lows during the same risk-off move. That difference gave Ether a narrow relative strength signal.

Trader Ardi described the current support area as a long-term line for bulls. He argued that daily closes below it would weaken assumptions from the 2022 recovery structure. That view matched the broader focus on trend continuation.

Jelle also warned that a sustained break could push Ether into an older trading range. His chart framed the current area as one defended during repeated corrections since mid-cycle lows. Traders, therefore, treated the zone as a market structure test.

ETH Crypto Buyers Test Bearish Structure

Cyclops took a lower view of the next demand area. The trader identified the $1,070 to $1,370 range as a possible accumulation zone. A decline into that area would break the multi-year ascending trendline.

Such a move would extend the bearish structure rather than repair it. It could also delay any broad recovery attempt by forcing buyers to rebuild support. For now, ETH crypto bulls relied on spot absorption against dormant wallet supply.

The mixed whale activity created a narrow market setup. Old wallets supplied coins, while newer buyers absorbed part of that pressure. This shift kept liquidity active, but it did not remove downside risk.

The next test sat at the daily close around long-term support. A firm loss of that area would shift attention toward the lower demand range. A hold would keep accumulation claims alive, but buyers still faced weak whale profitability.

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