- Whale moves $135M ETH to Coinbase amid profit-taking signals.
- Ethereum trades near record high with 97% addresses in profit.
- Market watches whale activity as ETH rally approaches key milestone.
Ethereum’s bullish momentum has sparked renewed attention after a large-scale whale transfer stirred concerns among traders.
Whale Alert reported that an anonymous wallet transferred 31,699 ETH, or around $132.53 million, to Coinbase Institutional in a single transaction. The decision is made because Ethereum has increased by more than 17 percent in the recent days and has been trading above the $4,000 mark.
This transfer has created speculation that the whale is gearing to sell. Even though these movements do not necessarily result in immediate liquidation, the current state of the market makes the transaction the hot topic of the conversation.
As ETH is currently under 15 percent of its all-time high of $4,891.70 in November 2021, traders are considering the effect of this on the current rally.
Also Read: Ripple Under Fire as Analyst Exposes XRP Insider Control and Lost Market Edge
Market History Fuels Profit-Taking Concerns
Ethereum’s performance has drawn comparisons to December 2024, when it briefly crossed $4,000 but failed to reach a new peak. That rally ended in a sharp correction, with the price plunging below $2,000 in the months that followed. The resemblance in price action has already encouraged some investors to take profits early to prevent a possible repeat.
ETH reached an intraday high of $4,348.15 before easing slightly. Latest figures show the price at $4,295.28, reflecting a 1.94 percent gain over the past 24 hours. This gradual rise has ensured that sentiment has remained mixed, as bullish traders anticipate a breakout and more cautious investors are bracing themselves against potential downside pressure.
The movement of the whale may impact the behavior of the market in case of other large holders doing the same. Nevertheless, approximately 97 percent of Ethereum addresses are in profit now, which may stimulate more accumulation instead of mass selling.
This kind of purchasing can support Ethereum to reach another record.
According to market analysts, the next few days will be very important in the trend of ETH. The long-term demand might drive the cryptocurrency to go above its all-time high and the increased profit-taking might slow or reverse the current momentum.
For now, Ethereum remains at a pivotal point, balancing strong bullish energy with the risk of increased sell pressure.
Also Read: Lawyer Slams Trending Speculation About Ripple Lawsuit Continuation and XRP Price Outlook
