Ethereum Whale Sells 33,623 ETH Near $1,500 Support

The timing matters because Ether is hovering just above a level that has repeatedly acted as support through prior pullbacks. Traders say a daily close below $1,500 could weaken the bullish structure built since the 2022 bear market and open the door to a deeper slide.

The move also comes as other large holders are still buying, underscoring how uneven conviction has become across the market. One whale swapped 464 bitcoin, worth about $27.6 million, for 17,750 ETH, while crypto investor Chun Wang added 9,937 ETH and 147 Wrapped Bitcoin after withdrawing nearly 87,000 ETH from Binance over the past month at an average cost of about $1,749.

Institutional flows remain active too. BlackRock transferred 41,996 ETH and 4,577 BTC to Coinbase Prime, a move generally associated with custody or portfolio management rather than an immediate sale, though it still adds to the sense of a market under repositioning.

The pressure point is not just technical. CryptoQuant analyst Darkfost said Ethereum whales holding between 1,000 ETH and more than 100,000 ETH are all sitting on paper losses, the first time since 2019 that all major whale cohorts have been underwater at once. That is significant because whale capitulation has often coincided with late-cycle stress or eventual bottoms in prior downswings.

Ethereum was last trading around $2,500 in the supplied price data, with the 50-day moving average near $2,557 and the relative strength index at 30.9, reflecting weak momentum. Adalytica’s Ethereum Fear & Greed Index shows “Extreme Fear” at 13, while Bitcoin’s gauge is even worse at 3, signaling broad risk aversion across crypto rather than an isolated Ether problem.

If $1,500 gives way, analysts cited in the source data point to a possible move toward the $1,070-$1,370 zone, where buyers previously stepped in during early 2023. For investors, that makes the next daily closes a high-stakes test of whether long-term holders are defending the market or starting to unwind into weakness.