Whale Transfer Intensifies Ethereum Selloff Amid Geopolitical Tensions

An analytics firm has issued a warning about whale activity in the cryptocurrency market as it recovers from recent geopolitical jolts. The firm highlighted a significant transfer of Ethereum, worth $313 million, from a dormant wallet to a major exchange, which has intensified selling pressure on the cryptocurrency. This transfer, detected by blockchain tracking services, occurred as Ethereum struggled to maintain its price above $2,400, leading to a breakdown below key technical support levels.

The wallet, identified as "0xd47b," had remained inactive since November 2022, when it received a substantial amount of Ethereum from another exchange-linked address. The sudden movement of 129,392 ETH to Coinbase during a period of price weakness has raised concerns about potential liquidation and additional selling pressure. Such large transfers from dormant wallets often trigger algorithmic selling and stop-loss orders from institutional traders, exacerbating the downward trend.

Market analysts have noted that the impact of this transfer extends beyond its dollar value. The technical structure of Ethereum has deteriorated significantly following the whale deposit and subsequent price action. Analysis of the cryptocurrency's four-hour chart reveals a clear breakdown below the crucial $2,362 support level, confirming bearish momentum that had been building over recent sessions. This breach validates downside targets that technical analysts have been monitoring, with initial support anticipated near $2,151 and secondary support near $1,954. A more severe selloff scenario could drive Ethereum toward the $1,750 level, representing a substantial decline from recent trading ranges.

The Ethereum selloff coincides with broader market tensions stemming from escalating geopolitical conflicts. These developments have created additional headwinds for risk assets, including cryptocurrencies, and have likely amplified the selling response. Investor sentiment has grown increasingly cautious as global tensions rise, creating a challenging environment for Ethereum's near-term price recovery. Market participants are closely monitoring both on-chain whale activity and international developments for directional cues.

Despite the relief rally, Santiment has warned of potential price swings due to large whale transactions spotted across several altcoins. The firm reported that over $1 million in the following tokens has been moved to centralized exchanges in the past day: PAX Gold (PAXG), Space ID (ID), Gala (GALA), Aethir (ATH), and Pendle (PENDLE).

“Be prepared for volatility, especially when high percentages of a coin’s supply are transferred to a CEX,” Santiment cautioned. Such moves are typically interpreted as preparation for potential sell-offs, as whales may be positioning to exit or rebalance holdings. Historically, these patterns often precede short-term price volatility.

Santiment’s alert reinforces the importance of tracking large-scale wallet movements—especially during periods of geopolitical and macroeconomic uncertainty. Traders are advised to closely monitor PAXG, ID, GALA, ATH, and PENDLE, as increased inflows to exchanges could signal near-term selling pressure. While Bitcoin and Ethereum show signs of stabilization, certain altcoins may still face turbulence as on-chain data hints at further repositioning by large holders.

The analytics firm's warning underscores the importance of monitoring whale activity in the cryptocurrency market. The $313 million transfer from a dormant wallet to Coinbase has intensified concerns about additional selling pressure, while technical indicators point to potential further declines toward $2,000 or lower. As the market recovers from recent geopolitical jolts, investors and traders alike are advised to remain vigilant and prepared for potential volatility.