Recent fluctuations in the crypto market have significantly affected Ethereum's price, which is currently under pressure after a recent rise.
Whale Accumulation Continues Despite Falling Ethereum Price
Over the past two weeks, large Ethereum holders have accumulated approximately 166,199 ETH through over-the-counter transactions, valued at around $435 million. According to Arkham Intelligence, nearly 140,000 ETH has also left centralized exchanges during this period, suggesting rising on-chain accumulation. The average purchase price for these transactions was $2,618 per ETH.
First Net Outflows from Ethereum ETFs after a Long Streak
Spot Ethereum ETFs recorded net outflows of $2.1 million on Friday, ending a 19-day streak of consecutive inflows. This shift comes after the ETFs accumulated $1.4 billion during the streak, signaling a possible change in investor sentiment.
Ethereum Price Faces Pressure Near $2,520
According to TradingView data, Ethereum price is currently trading at $2,527.7 after opening at $2,538.7. The price exhibits a bearish arrangement having declined sharply out of $2,800 making lower highs and lower lows. The support area is at $2,520, while more support is observed at $2,480.
Despite the activity from large holders and continued accumulation, Ethereum's price is facing pressure at key support levels. Investors remain watchful of market conditions.
