An Ethereum whale has sold 35,000 ETH, valued at $72.3 million, as bearish sentiment grows with Ethereum trading near the $2,000 support level. The whale's aggressive selling, at an average price of $2,066 per ETH, reflects a lack of confidence in the market, anticipating further losses. This activity coincides with increased exchange inflows, indicating heightened selling pressure.
Additionally, a trader has opened a 23x-leveraged short position on 47,604 ETH, worth $100.3 million, further underscoring the bearish outlook. Ethereum's market weakness is also evident in declining capital inflows, which have dropped sharply from $755 million to $13 million, according to DeFiLlama. Momentum indicators remain negative, suggesting continued downward pressure unless demand strengthens.
Ethereum Whale Sells $72.3M in ETH Amid Bearish Market Sentiment
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