Ethereum's price is experiencing a decline amid increased market uncertainty due to U.S. tariff wars, resulting in significant value loss over the past four months.
Ethereum Whales Cash Out
The Ethereum network has seen major outflows recently amid a leadership change at the Ethereum Foundation. U.S. spot Ether ETFs reported a net outflow of nearly $200 million over the past three weeks, and BlackRock's ETHA experienced an $11 million outflow.
Heavy Liquidation at Hyperliquid
On Wednesday, an Ethereum whale opened a long position of 175,179 ETH, valued at $335.6 million with 50x leverage on Hyperliquid. The investor actively closed positions worth about $28.7 million, resulting in a profit of $1.86 million, while Hyperliquid's liquidity provider suffered a $4 million loss.
Ethereum Price Prediction
Ethereum faces bearish sentiment against Bitcoin, with the price retesting levels not seen since May 2020. Closing below the crucial support of $2.1k, a further decline towards $1.5k is anticipated unless a V-shaped reversal occurs.
In the face of market uncertainty and intense liquidity struggle, major investors continue to withdraw funds, creating additional pressure on the Ethereum network.
