Major Ethereum holders have transferred significant ETH reserves to centralized exchanges within 48 hours, intensifying selling pressure. Whale transactions totaling 26,182 ETH ($93.66 million) were directed to platforms including Binance, Kraken, OKX, and Bybit amid heightened market volatility.
Futures markets reveal excessive leverage near the $3,400–$3,500 price range, elevating liquidation risks as traders amplify positions. This activity coincides with Ethereum’s critical technical juncture, where the $3,458–$3,490 support zone historically buffers significant price reversals.
Despite bearish signals, most Ethereum investors remain insulated from immediate losses. Approximately 92.26% of addresses currently maintain profitability, providing a buffer against sharp downside movements. Whale behavior metrics demonstrate extreme volatility, with 7-day netflow surging 8,294% while 90-day flows declined sharply.
Market stability now hinges on Ethereum maintaining the $3,458 support. Failure to hold this level risks triggering rapid liquidations that could accelerate declines toward the $2,906 price threshold.