Key Insights:
Whales have moved $544 million worth of Ethereum into various exchanges.
These ETH if sold could trigger a further sell-off in the markets prompting retailers to exit.
At present, Ethereum is already witnessing Fear, Uncertainty, and Disorder in retail markets, as well as in the ETF sector.
A sell-off could trigger a crash in Ethereum, which could take its price below $3000 and up to $2100 in the medium term.
In the last 48 hours preceding press time, several ETH whales have sent nearly $544 million of Ethereum to various exchanges. This represents one of the largest Ethereum sales in the last couple of months.
If selling intensifies, it could not only trigger a price crash but also prompt post-US-election buyers to redeem their Ethereum for safer tokens.
We assume it could establish a much stronger Bitcoin. The reason for this assumption is the continuous flow of money from corporate, retail, and public funds into Bitcoin.
Falling Trend in Ethereum in the Last 6 Months
CoinMarketCap
Ethereum has long been losing market share, at least for the last six months. From August 2024 to January 2025, Ethereum's market share witnessed almost a one-third decline from 15% in August 2024 to 11% in January 2025.
On the other hand, Bitcoin's market share has been consistent in this phase, with a one—or two-percent deviation from the 55% average dominance.
This shows that Ethereum's loss of dominance primarily affected the broader markets, where new cryptocurrencies, RWA tokens, AI cryptos, and other Layer-1 chains have gained from it.
This change is already triggering FUD sentiments for Ethereum, where popular memes in the market show how ETH remains the single loser despite the whole market rallying.
Crypto Market Growth in the Last 30 Days
CoinMarketCap
In the last 30 days, the total market cap of the crypto markets rose from $3.43 trillion to $3.64 trillion, which represents a rise of 6%. The markets are now just 4% away from their all-time high level of $3.79 trillion.
However, the same growth was not seen for Ethereum, which stayed at the same price range of $3350 to $3450. Buyers and sellers from both the upper and lower parts of the range quickly addressed any deviation from this narrow range.
Ethereum in the Last 30 Days
CoinMarketCap
The chart from Ethereum represents an unstable equilibrium, which, in common language, means that if ETH falls from these levels, it could fall a lot more than other cryptocurrencies. Given the recent actions by whales, the markets could get imbalanced by the unexpected sell-off amid a bull cycle.
Ethereum could go as low as $3029 if the impact of whale selling is minimal. This is the best-case scenario.
ETH USDT 1D Charts
Tradingview
However, if the selling intensifies, which is the most probable case, we might see a fall below $3000. This fall would trigger the retail markets that entered Ethereum during the post-election rally (6 to 15 November 2024).
Selling by buyers who have bought below $3000 would trigger a further collapse in the price of Ethereum, which could then trigger the sell-off till the bull market base level is reached in Ethereum, which is at $2100.
However, broader markets may not resonate with this selling by Ethereum. Led by strong gains in Bitcoin, Ethereum could remain the sole loser in the crypto space in the medium term.
Yet, we still re-iterate the strong fundamentals of ETH, which supports over 50 blockchains. Lately, ETH's earnings report clearly shows growing adoption, which then confirms that the current sell-off is only a medium-term phenomenon.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.