After an intense sell-off that drove the cryptocurrency toward the psychological $2,000 mark, causing widespread liquidations and panic in the larger cryptocurrency market, Ethereum is starting to show early indications of stabilization. On-chain data now indicates that some of the biggest players in the market are subtly switching from aggressive selling to accumulation.
From selling to buying
Whale wallet 0x28eF, which has been purchasing Ethereum quickly, makes one of the most noteworthy moves. The wallet withdrew 60,784 ETH, or about $126 million, from Binance in the last 30 hours alone, indicating obvious accumulation rather than sale preparation.
ETH/USDT Chart by TradingView
Large exchange withdrawals usually signify long-term positioning, because the money is transferred from trading platforms to cold storage. Following an estimated $747 million loss, TrendResearch closed its position at the same time by depositing all 651,757 ETH, worth approximately $1.34 billion, to Binance at an average price of $2,055.
HOT Stories XRP Defies Market Bearishness with $45M in Weekly ETF Inflows Ripple Invited to White House, Peter Brandt Calls Out Bitcoin Manipulation, Musk Endorses Dogecoin, Vitalik Buterin Dumps Ethereum — Top Weekly Crypto News
Pressure eases
With the removal of one of the main causes of sell pressure in the market, this significant capitulation event seems to have signaled a shift in sentiment. It's interesting to note that a number of other sizable wallets are likewise displaying accumulation indicators, shifting their focus from the aggressive selling that dominated trading a few days ago. When panic-driven supply from retail participants is absorbed by stronger hands, this change in behavior frequently occurs close to market bottoms.
You Might Also Like
Sun, 02/08/2026 - 09:15 Kiyosaki Dismisses Critics After Being Ridiculed by BitcoinersByAlex Dovbnya
Ethereum is still technically in a precarious position, but strong buying activity close to recent lows suggests that supply is beginning to be absorbed by demand. If accumulation persists, ETH may try to recover in the upcoming sessions toward important resistance zones. After capitulation events, markets often produce strong relief rallies before resuming their downward trends.
This implies that if general sentiment toward cryptocurrencies does not improve, the current move might still turn into a traditional bullish trap. Although things are getting better for the time being, whether or not this whale-driven accumulation continues into the upcoming trading sessions will determine whether or not a real reversal is confirmed.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
