A dormant Ethereum whale sold 77,736 ETH valued at 228.6 million USD. This significant transaction triggered panic in the market, causing Ethereum’s price to drop to key support levels.
The whale had previously bought the ETH for only 11.9 million USD back in January 2019. Such strategic moves from whales signal upcoming trends and potential buy zones.
Aggressive short positions among traders further intensified the price drop. Current positioning suggests a critical point for Ethereum, impacting future market dynamics.