Ethereum Slides as Massive Whale Activity Triggers Short-Term Selling Pressure

Ethereum (ETH) has come under renewed selling pressure over the past few hours, with prices slipping sharply as large-scale whale transactions hit the network — triggering visible red candles across intraday charts.

Blockchain data shows that multiple massive ETH transfers, totaling well over 150,000 ETH (worth hundreds of millions of dollars), were moved from unknown wallets to the Ethereum Beacon Depositor within a short time window.

Whale Activity Sparks Market Reaction

According to on-chain tracking, the following transactions were recorded within roughly 7 hours:

• 26,880 ETH (~$75.8M)
• 38,400 ETH (~$108.3M)
• 34,560 ETH (~$97.4M)
• 30,720 ETH (~$86.6M)
• 23,040 ETH (~$64.9M)

All transfers originated from unknown wallets and were sent directly to the Beacon Depositor, signaling large-scale staking or repositioning activity by whales.

While these transfers are not direct spot-market sales, they often spook short-term traders, especially during periods of fragile market structure.

Why ETH Dropped in the Last Few Hours

Market analysts point to a combination of on-chain signals and technical factors driving the sudden downside:

Whale-Induced Fear and Liquidity Shock

Large ETH movements frequently create fear of imminent selling, prompting:

• Short-term traders to exit positions
• Stop-losses to trigger below support levels
• Increased derivatives liquidations

This leads to rapid downside momentum, even if whales are staking rather than selling.

Breakdown of Key Intraday Support

ETH recently lost a critical short-term support zone, which accelerated selling once breached.

With leverage still elevated in derivatives markets, even moderate pressure can lead to cascade liquidations, amplifying red candles.

Market Rotation and Risk-Off Sentiment

Broader crypto markets are seeing:

• Capital rotating into Bitcoin or stable assets
• Reduced appetite for high-beta altcoins
• Cautious positioning ahead of macro and regulatory uncertainty

ETH, as a large-cap altcoin, often absorbs this pressure first.

Staking Isn’t Bearish — But Timing Matters

Importantly, moving ETH to the Beacon Depositor is fundamentally bullish long term, as it:

• Locks supply
• Supports network security
• Reduces liquid ETH on exchanges

However, in the short term, markets often react emotionally to whale-sized movements — regardless of intent.

“Markets trade perception before fundamentals,” noted one on-chain analyst.

Short-Term Volatility vs Long-Term Structure

Despite the pullback:

• Ethereum’s long-term trend structure remains intact
• Staking participation continues to grow
• Layer-2 activity and network usage remain strong

Analysts suggest the move looks more like a liquidity-driven shakeout than a structural breakdown.

Outlook: What Traders Are Watching Next

In the near term, traders are focused on:

• Whether ETH can reclaim lost intraday support
• Cooling of whale-driven volatility
• Open interest resetting to healthier levels
• Stabilization in broader crypto sentiment

If selling pressure fades, ETH could see a technical bounce, especially as staking reduces circulating supply.