Ethereum Price Locks Below $2k on Whale Selloffs Signal
Ethereum (ETHUSD) dropped by 2.11% to $1,958.99 in 24h, underperforming a slightly weaker broader market, primarily driven by a major whale preparing to sell.
The negative price movement of the altcoin reflects heightened selling pressure from large holders and a defensive shift in derivatives sentiment.
A long-term whale deposited $543 million worth of ETH to Binance, signaling imminent sell-side pressure and spooking the market. Broader market weakness with Bitcoin down by about 1%, compounded by bearish derivatives positioning where aggressive sell orders dominate.
Ethereum’s price is being driven by a combination of specific whale distribution and broad defensive positioning. The path of least resistance remains down until the market absorbs this potential supply overhang.
On February 15, a veteran investor known as “Garrett Jin” deposited 261,024 ETH worth about $543 million to Binance. This investor had held the assets untouched for over a decade, making the transfer to a major exchange a strong signal of intent to sell.
The market interpreted this as impending supply pressure, triggering the sell-off. Large, long-term holders distributing assets often leads to sustained downward pressure, as it introduces substantial sell-side liquidity that the market must absorb.
Based on trading data, the total crypto market cap fell 0.97%, with Bitcoin down about 1%. Ethereum’s larger decline shows it bore the brunt of the risk-off move.
This was amplified in derivatives markets, where the Taker Buy/Sell Ratio on Binance fell to 0.97—its lowest since November 2025. A ratio below 1.0 means aggressive sell orders are outpacing buys, confirming a structural bearish shift.
The sell-off was not isolated to spot markets; futures traders are also positioning defensively, increasing the risk of a liquidity squeeze on further downside.
The immediate trigger is the whale’s potential selling. The key technical level to watch is the $1,900 support, which aligns with the recent weekly low.
A decisive daily close below $1,900, especially if accompanied by high volume, would likely trigger stop-losses and target the next major support zone near $1,600–$1,650.
Investors have continued to monitor Binance’s order books and on-chain flows for signs that the $543 million whale deposit is being sold, which would confirm the primary driver and likely extend the decline. U.S. Dollar Index Stalls after Gains Against G10
