Ethereum whales sell $321 mln in 60 seconds! Still, a tough battle remains

Ethereum

Ethereum whales sell $321 mln in 60 seconds! Still, a tough battle remains

$321M in a minute？

Thats not a routine pullback. It marked intense sell-side aggression, with both whales and retailers contributing to the spike in volume.

Source: CryptoQuant

This level of activity often mirrors fear or aggressive profit-taking.

Of course, the panic wasnt just reflected in trade volumes. ETH also recorded 1.2 million coins in Exchange Inflows, mostly from whales.

Source: CryptoQuant

Who‘s buying what they’re selling？

Source: IntoTheBlock

Such negative Netflow, paired with rising inflows and elevated Sell Taker Volume, spelled out strong bearish sentiment. Either holders were locking in profits or scrambling to cut losses.

Buyers step in, but is it enough？

As of this writing, Ethereum recovered to $2,424. This mild rebound hints that some buyers saw an opportunity to buy the dip, absorbing the pressure and halting further downside, at least for now.

Wait for THIS tipping point!

Source: CryptoQuant

That said, the battle isnt over. ETH has returned to a consolidation zone, where bulls and bears appear locked in a short-term stalemate.