Institutions dump ETH as Ethereum falls 36% YTD – Sell pressure rises further
Ethereum (ETH) continues to struggle, trading around $1,591 amid prolonged market weakness. High-net-worth investors and institutions are capitulating, selling at significant losses. A prominent example is FG Nexus, which recently sold 3,375 ETH ($5.34M), bringing its total realized loss to over $86.8 million. This trend is broad, with U.S. institutional sentiment measured by the Coinbase Premium Index negative for 53 consecutive days. On-chain data shows a positive Exchange Netflow, indicating more ETH is being deposited to exchanges than withdrawn, signaling heightened selling pressure. Technical analysis reinforces the bearish outlook, with ETH's Daily RSI at 35, suggesting strong downside momentum and total bear control. If current conditions persist, ETH risks breaking the $1.5k support level and potentially falling to $1,400, with sideways movement between $1.5k and $1.7k being the only near-term positive scenario.
ambcryptoHace 21 min(s)