A dormant Ethereum whale has transferred 7,000 ETH, valued at approximately 13.8 million USD, to Kraken, coinciding with ETH’s price drop below 2,000 USD. This significant transaction reflects ongoing turbulence within the market.

Ethereum presently trades around 1,917 USD, which is below its realized price of 2,058 USD, placing many holders at a loss. Selling pressure is increasing, and immediate support has been identified at 1,592 USD, with potential for further price declines.