Ethereum Drops 10% in Week, Whales Sell 760,000 ETH

Ethereum's price has experienced a significant decline, dropping by 10% over the past week. This downturn has led to a heavy selloff by large holders, or whales, in the Ethereum network. Despite a brief rebound to the $1,800 support level, analysts are closely monitoring the situation to determine how low the price could potentially fall. Some analysts suggest that Ethereum is at a critical juncture, facing a make-or-break scenario that could determine its future trajectory.

Since the beginning of 2025, Ethereum's price has decreased by 44%, indicating a strong bearish trend. The monthly chart shows that Ethereum has been trading within a well-defined channel since 2018, with clear boundaries at the top and bottom levels. Currently, the price is testing a mid-channel resistance zone, which analysts have labeled the "Make or Break Level." This zone has historically been a significant determinant of price movements. If Ethereum's price bounces back from this level, it could potentially rise to $20,000 or higher. However, if it fails to hold this support, the price could crash to levels below $1,000, potentially reaching as low as $610. This is the first time in history that Ethereum has ended all three months of Q1 in negative territory. Market analysts predict that Q2 could be better, with Ethereum's price potentially stabilizing around $1,880 over the next month.

Crypto analyst Ali Martinez reported a significant decline in Ethereum whale activity, with large transactions dropping by 63.8% since February 25. Over the past two weeks, whales have sold 760,000 ETH, indicating reduced institutional or large-holder participation in the network. Despite this, some market analysts believe that Ethereum will soon start outperforming Bitcoin. Popular analyst Michael van de Poppe stated that altcoins will soon start gaining momentum as Gold shows signs of topping out. “If Gold starts to correct in this month, likely ETH starts to outperform Bitcoin,” noted Poppe.

Inflows into spot Ethereum ETFs have also dried up amid poor Ethereum price performance. The net inflows since its inception have slipped under $2.5 billion, showing waning institutional interest in the asset class. This is down from the peak of $3.042 billion on February 25. Experts attribute Ethereum’s struggles to its lack of leadership and innovation in the Web3 space. The upcoming Pectra upgrade, aimed at enhancing wallet functionality and network efficiency, is tentatively set for April 30, 2025, according to core developers.