Ethereum Survives $3,100 Breakdown After Hayes’ $4M Sell-Off and Whale Awakening
Ethereum rebounded above $3,100 following a brief dip, amid large sales by Arthur Hayes and activity from a decade-old whale wallet.Summary
Ethereum briefly fell below the $3,100 support level on Monday morning before recovering, reflecting broader market weakness and conflicting trader sentiment. This volatility occurred as BitMEX co-founder Arthur Hayes liquidated approximately $4.1 million worth of crypto assets, including ETH, sending them to institutional desks. Simultaneously, a dormant Ethereum ICO wallet, holding ETH acquired over a decade ago, transferred 200 ETH, signaling potential whale activity and long-term holder conviction. Market sentiment remains divided, with analysts like Tom Lee projecting significant future gains based on Bitcoin's historical cycles, while others, like Ali Martinez, suggest potential further declines toward $1,800. The market is closely watching ETF flows to determine ETH's near-term direction.
(Source：BeInCrypto)