Analysis: Ethereum Whale Wallets Drop by About 60, Putting $2,000 Support in Focus
Summary
- About 60 Ethereum whale addresses holding more than 10,000 ETH either emptied their balances or were consolidated over the past two months.
- He said institutional profit-taking, portfolio reallocation, and moves to reduce risk suggest medium-term conviction has weakened.
- He said the drop in whale addresses, together with rising exchange inflows, has put short-term selling pressure and the $2,000 psychological support level under close watch.
Forecast Trend Report by Period
A recent analysis suggests large Ethereum holders have been trimming positions or consolidating wallets.
Crypto analyst Ali Martinez wrote on X on May 19 that about 60 Ethereum whale addresses holding more than 10,000 ETH had either fully emptied their balances or been consolidated over the past two months.
Martinez said the move could signal institutional profit-taking and portfolio reallocation, as large investors with multimillion-dollar positions appear to be leaving the network over a short period.
He added that large holders have recently been using liquidity to reduce risk, a sign that medium-term conviction has weakened.
Martinez also said the drop in whale addresses has coincided with a recent increase in exchange inflows. With large holders moving tokens while exchange deposits rise at the same time, short-term selling pressure could persist.
Current data suggest downside pressure is stronger in the near term, he added, and he is watching the psychologically important $2,000 support zone very closely.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
