Ethereum Whale ‘7 Siblings’ Sells $88M, Still Holds $5.6B in ETH

Short-term ETH holders drive profit-taking

Ethereum is facing renewed profit-taking pressure, with short-term holders leading the charge as ETH trades at about $4,600. On Monday, Glassnode reported that these investors were realizing about $553 million in daily gains, far outpacing long-term holders, who remain relatively inactive.

Despite being up 43% over the past month, ETH‘s current profit-taking levels are still 39% below last month’s peak, when prices were near $3,500, Glassnode said.

The Ethereum Foundation also sold 2,795 ETH worth about $12.7 million as prices hit yearly highs. The sales, executed in two transactions late Tuesday via a wallet linked to the foundation, reduced its holdings to just 99.9 ETH and 11.6 million DAI.

Despite the profit-taking, some remain bullish. Over the weekend, BitMEX co-founder and Bitcoin billionaire Arthur Hayes said he had bought back into Ethereum just a week after selling $10.5 million when it was trading at $3,507.

ETH could hit $8,600 if Bitcoin reaches $150,000

As reported, crypto trader Yashasedu said Ether could climb above $8,500 if Bitcoin reaches $150,000, citing historical bull market trends where ETH‘s market cap reached 30%–35% of Bitcoin’s.

If ETH were to match 35% of Bitcoin‘s market cap at $150,000, the price could hit $8,656. Even at a lower range of 21.7%–30%, ETH could trade between $5,376 and $7,420. The projection came as Ethereum’s total value locked (TVL) exceeded $90 billion and institutional interest had increased.

Notably, spot Ether ETFs registered a record $1.01 billion in daily net inflows on Monday. The inflow came as BitMine Immersion Technologies announced plans to raise $20 billion for ETH purchases.