Profits bleeding: Ethereum whales on the edge Whi

Profits bleeding: Ethereum whales on the edge

While these signals don’t yet point to a full-blown capitulation, they mark the opening act of a potential sell-off. 

As profit margins erode, smart-money whales may start to lose conviction. That recent $159 million whale transfer? Think of it as the first move in a possible larger unwind.

Thus, to avoid a repeat of the steep February-style downturn, maintaining critical support levels is essential. Encouragingly, ETH ETFs continue to attract inflows, maintaining a steady month-long streak that underscores resilient institutional demand. 

Meanwhile, the ETH/BTC ratio remains locked in a narrow range, reflecting indecision, but it’s notably more resilient compared to the sharp breakdown seen in the previous cycle.

Taken together, this suggests Ethereum bulls are carefully strategizing momentum to keep smart money locked in for the long haul. 

If the critical $2,350 support level holds firm, whales are likely to maintain their positions, fueled by FOMO in an impending breakout. 

However, a decisive break below $2,350 could trigger a broader unwind, unleashing cascading sell pressure and potentially accelerating a market correction.