Observations of Note
Might these leviathans of finance signal a floor for ETH? 🧐
Ten wallets of considerable fortune have acquired 210,000 ETH at a modest $4,100, suggesting a retreat of the faint-hearted, while the steadfast remain. 🤑
Does institutional capital lend its countenance to this rebound? 🤔
Alas, ETH ETFs have suffered outflows to the tune of $290 million, and fear, uncertainty, and doubt (FUD) keep the monied classes at bay, tempering any immediate ascent. 😱
The market, ever fickle, is divided on whether Ethereum [ETH] has reached its nadir. In terms of price, it has erased all gains from late August and September, resting some 20% below its zenith of $4,900. 📉
The majority of profits from the peak have already been claimed, it seems.
Indeed, ETH’s realized profit reached a four-year high of $2 billion on the 18th of September at $4,589, representing a substantial sell-off of 1.84 million. This indicates that short-term gains have been swiftly pocketed. 💸
In essence, ETH appears poised for a thorough reset. Supporting this notion, Lookonchain has identified ten whale wallets that amassed 210,000 ETH for $862.85 million, at an average cost of $4,100 per ETH. 🐳
In brief, these whales endorse the reset hypothesis, with on-chain indicators in accord. 📊
On the charts, ETH has shed over 9.3% this week, marking its most significant weekly outflow in nearly two months. Historically, such retracements often precipitate robust rebounds, hinting at a classic shakeout of the weak-willed. 📉
Meanwhile, as AMBCrypto noted, Ethereum’s post-liquidation decline was three times deeper than Bitcoin [BTC], resetting positions across derivatives. The question now is: Might this weekly drawdown be merely a “wholesome reset”? 🧘♂️
Ethereum FUD Casts a Pall on Market Confidence
It appears that institutional capital and the astute are not in harmony. 🤷♀️
ETH ETFs have endured three consecutive days of $290 million outflows, the largest since the $1 billion exodus in late August and early September. Clearly, institutions are retreating while whales continue to accumulate. 🏃♀️💼
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Simply put, traders are liquidating positions rather than holding through the downturn. 📉
According to AMBCrypto, this reflects a lack of conviction in near-term gains. Historically, however, such scenarios often signify ETH bottoms, as the timid exit and coins flow into more resolute hands. 🙌
Whale accumulation confirms this trend, though the absence of institutional support may temper the rebound. 🐋
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2025-09-25 19:19