Ethereum Price Tanks as Whale Sells 10K ETH After 900 Days

A large Ethereum holder has sold 10,000 ETH after keeping the tokens for more than 900 days. The ETH was originally purchased during the 2022 bear market at an average cost of $1,295, amounting to around $12.95 million in total investment. The wallet remained inactive during Ethereum’s rally to $4,000 but sold the full amount recently for $15.71 million.

This move resulted in a profit of approximately $2.75 million. However, it also marked a missed opportunity, as the position had shown unrealized gains of over $27 million at its peak. 

A whale sold 5,094 $ETH($7.5M) at $1,471 today to repay the debt again.

He originally borrowed 80.91M $USDT to buy 26,235 $ETH at $3,084 on July 5, 2024.

On March 11, he sold 25,800 $ETH for 47.8M $USDT at $1,853 to repay part of the debt.

The whale has lost ~$40M on $ETH.… pic.twitter.com/aTZMmVHVuD

— Lookonchain (@lookonchain) April 9, 2025

The timing of the sale has drawn attention due to its proximity to recent market declines, with some market watchers saying the move “shows a shift in patience among long-term holders.”

Ethereum Market Sees Mounting Sell Pressure

Ethereum’s price has dropped by over 50% since the start of the year, falling to nearly $1,400. As the decline continues, more large holders are exiting their positions. One leveraged investor borrowed over $80 million in USDT to buy 26,235 ETH at an average of $3,084 in 2024. Most of that position has now been sold, ending in a total loss of about $40 million.

The final batch of 5,094 ETH was sold this week for around $1,471 per token. This aggressive unwinding has added to the existing pressure on ETH. According to data firms monitoring the sales, “the selling behavior suggests investors are no longer waiting for a rebound, but choosing to cut losses instead.”

Technical Patterns Reflect Persistent Downtrend

Ethereum remains in a falling trend, with its price trading below key moving averages. The 50-day and 100-day EMAs continue to slope downwards, and the asset has broken below its 200-day EMA. Current RSI levels near 33 suggest ETH may be approaching an oversold zone, though no major reversal has occurred so far.

Analyst Ali Martinez pointed to $1,200 as a likely support level, noting that “price movements near $1,400 will be critical to watch in the coming sessions.” Traders are increasingly cautious, with many choosing to stay on the sidelines until new buying volume appears.

$1,200 could be where #Ethereum $ETH finds its footing! pic.twitter.com/ds0maPuHtA

— Ali (@ali_charts) April 8, 2025

Global Tensions and Policy Changes Add to Market Strain

The ETH selloff comes as investors react to rising economic tensions. A new round of U.S. tariffs on Chinese goods, introduced on April 8, has sparked concerns about a deeper slowdown in global trade. Risk assets, including crypto, have seen rising outflows since the announcement.

One wallet linked to World Liberty Financial, a group reportedly associated with former President Donald Trump’s business interests, sold 5,471 ETH for around $8 million. That sale took place at an average price of $1,465. 

Has Trump's World Liberty(@worldlibertyfi) started selling $ETH at a loss?

According to Arkham, a wallet possibly linked to #WorldLiberty sold 5,471 $ETH($8.01M) at $1,465 30 minutes ago.#WorldLiberty previously spent ~$210M to buy 67,498 $ETH at an average price of $3,259,… pic.twitter.com/jPMqCiADvt

— Lookonchain (@lookonchain) April 9, 2025

According to blockchain researchers, “the timing of the sale suggests caution rather than confidence.” With more long-term holders choosing to exit, traders are now watching closely to see if Ethereum can stabilize at the current price level or if further losses lie ahead.