Binance Whale Withdraws $21.78M in Ethereum

A whale withdrew 12,145 ETH (valued at $21.78 million) from Binance, sparking speculation about Ethereum's price trends. Whale activity often indicates larger market trends and investor sentiment. Traders are advised to monitor Ethereum's price closely following this event.

Ethereum (ETH) has seen significant whale activity in recent days, with large withdrawals potentially signaling a shift in market sentiment. On April 24, 2025, a whale withdrew 12,145 ETH (valued at $21.78 million) from Binance, sparking speculation about the cryptocurrency's price trends [1].

Whale activity often indicates larger market trends and investor sentiment. Traders are advised to monitor Ethereum's price closely following this event. The withdrawal comes amid a period of uncertainty in the broader market, driven by U.S.-China trade tensions [1].

Ethereum's price experienced a slight uptick of 0.75% to reach $1,595 during Friday’s trading session. However, the broader market sentiment remains uncertain. The buying pressure in ETH could be attributed to whale accumulation, which has renewed recovery from investors [1].

Massive whale withdrawals have been observed in recent weeks. Since April 1, a wallet linked to Metalpha has withdrawn 29,000 ETH, valued at approximately $48.73 million, from Binance [1]. Another prominent wallet, identified as 0xd81E, has moved 46,577 ETH, worth around $97.26 million, from Gate.io since February 15 [1]. These actions have fueled bullish hopes, suggesting a potential bottom formation and bullish recovery [1].

Ethereum's price is nearing a bullish breakout from the 20-day exponential moving average (EMA). The coin price has made several attempts to breach this resistance, but each has failed and bolstered a downtrend ranging from 17% to 35% [1]. If the altcoin witnesses another reversal from the 20-day EMA slope, the sellers may push an 18% fall to hit the bottom support trendline at $1,250 [1].

However, a bullish breakout from this resistance EMA will accelerate the bullish momentum for a 20% rally and challenge the resistance trendline of the falling wedge pattern [1]. Over the past four months, the chart setup has steadily corrected within two converging trendlines. A successful flip of the overhead resistance will signal the end of the current correction [1].

In contrast, the ETH/BTC ratio has plunged to 0.01791, its lowest level since 2020, driven by massive whale sell-offs from top institutions [2]. Galaxy Digital offloaded over $100 million in ETH in a week, and the Ethereum Foundation and Paradigm also executed large-scale transfers [2]. Low staking rates and rising Bitcoin dominance further weaken ETH, prompting a shift in market sentiment and investor focus [2].

The ETH/BTC ratio dropping to 0.01791 indicates that ETH is losing value relative to Bitcoin (BTC). This decline partly stems from BTC's price nearing $90,000 [2]. Ethereum's staking ratio currently stands at only 28%, significantly lower than competitors like Solana (65%) [2]. This could erode investor confidence, especially since ETH offers less attractive staking yields [2].

Despite the current selling pressure, some experts remain optimistic about Ethereum's long-term prospects. Ethereum continues to lead as the top platform for DeFi and NFT applications, with a total value locked (TVL) exceeding $45 billion as of April 2025 [2]. Upgrades like Ethereum 2.0 and the full transition to Proof-of-Stake could enhance ETH's performance and attract investors in the future [2].

However, investors should exercise caution in the short term. If selling pressure from whales persists, ETH may face the risk of a deeper decline, especially since the ETH/BTC ratio shows no signs of recovery [2].

References:
[1] https://www.cryptonewsz.com/ethereum-price-2000-whale-accumulation/
[2] https://beincrypto.com/eth-btc-hits-2020-low-whale-selling-pressure-intensifies/