Whales on a Sell-off Frenzy and Ethereum Price Forms a Death Cross

Ethereum has developed a death cross pattern. The risks further rise for this coin. The blockchain ecosystem is not going the right way. As a result, the Crypto market is repeatedly facing bearish downfalls.  

Today, ETH dropped to a weekly low of $2600, marking a fall of 1.17% in 24 hours. In 3 months, the coin has fallen more than 35%.  

The main reasons behind the fall  

Since mid-January, the major whales in the ETH repertoire have been giving up their tokens incessantly. As soon as the decline happened, the network of investors started giving up. The spot ETH ETFs experienced a huge outflow of 40.95 million USD within 24 hours on Wednesday. In comparison, the total inflow was only $3.1 billion.  

Whales’ Behavior 

LookonChain reporters did a study on the behavior of big whales. The results showed that a major investor sold 20,000 tokens to Kraken. Hence, a transfer of $52.8 million was made. The same investor gave away a further 20000 tokens of ETH 1 month before. And he is not alone. Several others followed suit.  

Whale sell-off is considered the worst movement for any cryptocurrency. These investors have the highest projections from a coin. When they give up, the smaller retail investors do not dare to invest in a coin with trust.  

ETH is also losing market share in some crucial areas. For example, a data point study from 2025 suggests that Ethereum has only 179 million USD in the form of fees. But, in the wake of the recent fees charged by newer coins like Circle, Solana, etc., it is nothing.  

The dreaded death cross pattern 

 

Investors are worried over the fact that the downfall streak of ETH is not yet over. The 50-day moving potential of the coin shows that it is forming a death cross on everyday charts. The death cross is one of the biggest red flags in any technical analysis.  

Lastly, this coin formed a similar cross in August 2024. Its value dropped by 20% back then. The pattern is repeating itself. But this time the loss may be even bigger.  

Is a rebound possible?  

Rebound might be a far-off option right now. Any rebound above the 200-day moving average can overturn the position that the coin faces right now. Once such a rebound occurs, the coin’s price could shoot up to $3090. Investors have to wait for another 3 months to understand where ETHEREUM is heading.