Ethereum Update: Major Holders Offload $52M as $1.35B Investor Wagers on Market Rebound

Within the last hour, a whale address moved 8,920 ETH to Binance at a loss, highlighting ongoing downward pressure on Ethereum's price trend.

. This transaction took place amid a broader slump in the crypto market, with dipping below $86,000 and around $2,700. The whale’s action fits a recent pattern of major holders selling off assets, (valued at $21.17 million) at an average price of $84,710, resulting in a $7.948 million loss over the past eight hours.

This ETH transfer to Binance seems to be part of a broader liquidation approach by institutional investors.

, a notable whale has sold 17,497 ETH (worth $52.41 million) at an average price of $2,994.9, taking a $18.4 million hit. Previously, this whale had acquired 13,316 ETH during Ethereum’s August and September highs, and is now in less than four months. At the same time, —has expanded its position by purchasing 23,995 ETH ($65.13 million) from Binance, bringing its total holdings to 489,694 ETH ($1.35 billion). This accumulation stands in contrast to the prevailing bearish mood, as of 28% has shaken confidence in digital asset treasuries (DATs).

Technical indicators further reinforce the negative outlook. trending downward, and the Bull Score Index has dropped to 20—its lowest since 2020—signaling an “extremely bearish” market. to $35.5 billion from $45 billion a month earlier, indicating reduced speculative trading. Experts , such as the Federal Reserve’s recent hawkish stance, which has dampened hopes for a rate cut in December.

Ethereum DATs, once considered safe options for crypto exposure, are now in the red, with leading firms like BitMine and SharpLink

on their ETH assets. BitMine, which holds 3.56 million ETH (2.94% of the total supply), has suffered an unrealized loss of $3.7 billion as ETH’s price has dropped $1,000 below its acquisition cost. Most DATs now have market-to-net asset value (mNAV) ratios below 1, raising alarms about potential liquidity issues if forced sales occur.

On-chain activity adds to the market’s vulnerability. Ethereum’s net outflows over the past 24 hours totaled $415 million, and both spot and derivatives data point to persistent selling.

has appeared, suggesting a possible further decline to $2,450 before any recovery. Traders are encouraged to watch for support at $2,500 and resistance at $2,800, with any rebound likely dependent on macroeconomic developments and renewed institutional interest.