Ethereum Whales Sell $1.8 Billion in ETH as Price Fails Recovery :

Ethereum’s price has struggled to recover, hovering around the $1,700 mark over the last few days. Despite attempts to break higher, ETH has failed to gain significant momentum.
This lack of progress in price movement has prompted large-scale sell-offs from Ethereum whales, compounding the bearish sentiment.
Ethereum Whales Move To Sell
In the past three days, addresses holding between 100,000 and 1 million ETH have aggressively sold about 1.19 million ETH, worth more than $1.8 billion. These whales’ decision to offload significant amounts of Ethereum highlights a shift in market sentiment, as they likely aim to offset potential losses from the stalled recovery.
With Ethereum failing to gain momentum above the $1,700 mark, these large holders appear to be capitalizing on the current price levels, driving the market lower. The sell-off by these whale addresses signals a lack of confidence in the short-term price movement of Ethereum.
The overall macro momentum of Ethereum appears weak, as indicated by the deeply negative MVRV Long/Short Difference of -29%. This indicator shows that long-term holders (LTHs) are struggling to maintain profitability. STHs typically sell quickly after making a profit, which adds to the volatility and bearish pressure on Ethereum’s price.
With STHs dominating profits, Ethereum is increasingly susceptible to further declines. As more short-term investors sell off their holdings, it’s likely that Ethereum will face downward pressure, especially if there are no significant catalysts to drive the price upward.
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