Where Does Ethereum Whale Accumulation Stand As Price Dips Below $3,000?
BeInCrypto
Ethereum's price decline below $3,000 is exacerbated by a halt in whale accumulation and declining long-term holder profitability.Summary
Ethereum is facing renewed bearish pressure as its price drops below $3,000, partly due to a pause in accumulation by large holders (whales) who had been buying earlier in the month. This hesitation among influential participants weakens market support. Furthermore, macro indicators like the MVRV Long/Short Difference have hit a four-month low, suggesting long-term holders are losing profitability, which risks triggering selling pressure that could accelerate the downtrend. ETH is currently trading around $2,801, with potential downside targets at $2,681 and $2,606 if support levels break. A sustained rebound above $3,000 is needed to restore confidence.
(Source：BeInCrypto)