Yikes! Ethereum Whales Are Throwing Their ETH Overboard—What’s Next?!

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So, guess what? Ethereum whales are currently engaging in some good old-fashioned panic selling. We’ve got on-chain data confirming that these big fish are flinging ETH like it’s a hot potato after prices plummeted another 7% today. Yes, darling, we’re talking about flopping under $2,300—how scandalous! 💔💸

Ethereum Whales In Panic Selling Mode

They really are offloading ETH by the boatload. Like, it’s practically a fire sale! One standout wallet, 0xc725…839d, casually sold 8,074 ETH—worth a whopping $19.63 million—just 12 hours ago! I mean, who needs money, am I right? 😅 And, as if that wasn’t dramatic enough, another wallet, 0x07Fe…A26D, uploaded 10,000 ETH to Binance over the last couple of days for a tidy sum of $23.44 million. Are they expecting a sale on croissants or what? 🍩

Crypto analyst Ali Martinez was quick to point out that large holders have collectively ditched over 440,000 ETH this past week. Nothing screams ‘panic’ louder than a stampede of whales knocking each other over to sell. Talk about a drama fest! 😬

Oh, and did I mention the chaos unleashed by the Bybit exchange hack last weekend? But don’t fret, they managed to claw back 100% of the lost Ethereum within days. So much for taking a leisurely stroll down “I lost my crypto” lane, right? 🏃‍♂️💨

Meanwhile, outflows from spot Ether ETFs have been skyrocketing. Just this Wednesday, the grand total of $94.3 million in outflows had BlackRock’s ETHA leading the pack at $68.4 million, according to Farside Investors. It’s like the Great Escape, only with less charm and more spreadsheets. 📉

Is ETH Still Buy On Dips?

Now, hold onto your hats, market analysts can’t agree whether to buy the dip or stand on the sidelines and sip their lattes. Some brave souls think it’s not the right time to sell ETH after plummeting over 14% in a week. Just the usual Thursday, am I right? 🤷‍♀️

Popular crypto analyst IncomeSharks insists that ETH is dipping into the bottom of its range, a magical ‘accumulation zone’, and now’s the time to buy before it shoots back up to $4,000. Last-minute shopping? Count me in! 🛒✨

And then there’s crypto analyst Justin Bennett, who draws the short straw with a pessimistic outlook, claiming the bulls aren’t doing anything at the current support levels. He jokingly suggested that if we’re not careful, ETH could drop to a horrifying $1,000. Someone hand him a metaphoric lifeline, please! 😬

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2025-02-27 10:08