"Ethereum down about 60% from its peak… market absorption capacity put to the test amid whale selling pressure"

Ethereum (ETH) is facing pronounced downside pressure as large holders’ sell orders flow into the market, observers say. With the token down more than 60% from its peak, a key variable is whether the market can withstand further selling.

According to crypto news outlet AMBCrypto on the 7th, Trend Research sold 170,033 ETH on the 6th (local time) to repay loans. The tokens disposed of over 10 hours totaled about $322.5 million and entered the market via Binance. Trend Research still holds more than about 293,000 ETH, and the liquidation price range for some leveraged positions has narrowed to the $1,560–$1,700 band.

Pressure is also mounting on other large holders. The outlet reported that whale addresses believed to be Joseph Lubin and “7 Siblings” are also nearing the liquidation-risk zone. If Ethereum’s price falls further, the possibility of cascading forced selling is also being discussed.

As of that day, Ethereum was trading near $2,000, and the $1,400 range is cited as a key demand zone. Still, some assessments note uncertainty over whether buying interest will be sufficient to absorb large-scale sell supply.

The outlet said, “Recent selling has been a key factor amplifying short-term volatility,” adding, “Whether the market can digest whale selling pressure will determine the path ahead.”