ETH Hits $1,899 Amid Rising Sell Pressure

Ether has fallen below $2,000, confirming a marked retracement phase. Indeed, the movement is accompanied by a visible disengagement of holders, an influx toward exchanges, and degraded technical signals. This threshold break tests the market structure and investor resilience.

A change of direction among ETH holders

Ether has reached a new annual floor at $1,899, well below the symbolic $2,000 threshold, while the crypto market plunges into extreme fear. This decline represents a drop of over 60 % from the asset’s all-time high, established at $4,950.

Beyond the price drop, analysts observe a notable change in holder behavior, especially in mid-sized portfolios, a key indicator of network health.

According to CryptoQuant data, several trends emerge :

• Intermediate holders are liquidating their positions : wallets holding between 100 and 10,000 ETH have significantly reduced their holdings over the quarter. “Medium-sized holders distributed their holdings during this price weakness phase,” reports the analysis ;

• A decrease in held volume : the wallet category containing between 1,000 and 10,000 ETH fell from 14.51 to 12.26 million ETH, a net loss of about 2.25 million ETH ;

• All realized price levels are breached : holder cohorts, regardless of size, now hold their ETH at a loss. The average realized price thresholds are estimated between $2,120 and $2,690 ;

• A risk of widespread capitulation : below their average entry price, these investors are more likely to sell, increasing market pressure.

These signals indicate a withdrawal of confidence among some long-term holders, while short-term volatility could still increase if this dynamic continues.

An increase in flows to exchanges and signs of a pressured market

Alongside the selling movements of intermediate holders, another dynamic emerges: a significant increase in incoming flows to exchanges, particularly Binance.

According to CryptoQuant data, 1.63 million ETH were transferred to this platform in a single day, a record since 2022. This unusually high volume may signal intentions for massive sales or short-term arbitrages. On-chain analyst PelinayPA estimates that this type of behavior “reinforces the idea that the market is entering a prolonged bearish season.”

This observation is supported by market indicators such as the taker buy/sell ratio, which stands at 0.94 on Binance, below the neutrality threshold of 1. This metric suggests that the majority of transactions are sales. In other words, selling pressure currently outweighs active buying demand, fueling a structural bearish momentum. The 30- and 50-day averages confirm this trend.

The Ether price below $2,000 confirms an atmosphere of growing distrust. Between technical pressures and withdrawals from key investors, the market enters a zone of uncertainty where each breached threshold heightens tension.