# Wallet Activity Related Articles

Ethereum’s drop isn’t about Vitalik: Charts show a market already rolling over

Ethereum's decline below the key $2,000 level was part of an existing bearish trend, not primarily caused by Vitalik Buterin's recent wallet activity. Technical analysis shows ETH had already broken below its $2,400 support in late January, establishing a pattern of lower highs and lower lows. While approximately 19,300 ETH ($39 million) linked to Buterin was sold, this represented only a fraction of daily market volume and occurred amid pre-existing weakness. The market absorbed these sales without significant stress. Broader factors like fading speculative interest and distribution by larger holders drove the downturn. For a trend reversal, ETH must reclaim the $2,200–$2,300 resistance zone; otherwise, further downside toward $1,700 remains possible.

ambcrypto02/26 18:13