"Whale Dumps $52M ETH, Sparking Market Sell-off"

Ethereum, the second-largest cryptocurrency by market capitalization, has witnessed a significant sell-off by a large whale, who dumped 20,000 ETH worth approximately $52.84 million on February 14, 2025. The transaction was tracked by Lookonchain and shared on X (formerly Twitter). This is not the first time this whale has sold ETH, as a similar transaction of 20,000 ETH worth $67.60 million was recorded on January 16, 2025.

Following this substantial dump, the whale's ETH holdings have decreased to 50,874 ETH, valued at around $134.80 million. The impact of such a large sell-off on the cryptocurrency market is significant, as it can create selling pressure and potentially drive prices lower. In this case, Ethereum's price has reacted to the dump, with a 1.10% decrease in the past 24 hours, trading near the $2,655 level. Additionally, trading volume has dropped by 10% due to the ongoing market sentiment and the whale's actions.

Traders have taken a bearish stance on Ethereum, with on-chain analytics firm Coinglass reporting that traders are strongly betting on the downside. The ETH exchange liquidation map shows that traders holding short positions are dominating the asset, with over-leveraged positions at the $2,700 level, totaling $510 million. Meanwhile, traders with long positions are over-leveraged at the $2,615 level, with $109 million in open positions. These long and short positions are at risk of liquidation if the price moves in either direction.

Expert technical analysis suggests that Ethereum is currently consolidating within a tight range at a crucial support level near $2,550. If ETH holds this support, there is a strong possibility that the asset could surge. However, if ETH fails to hold this level and closes a daily candle below $2,500, it could drop by 10% to reach the $2,220 level in the near future. Traders are closely monitoring the $2,200 level, as a break below this support could indicate a significant negative impact on the