When Whales Decide to Cash In
Key Highlights
• Whale group still holds $5.6B in ETH after rapid $88.2M sell-off.
• Profit-taking intensifies as ETH trades near $4,600 despite bullish long-term forecasts.
Yello Paradisers! The mysterious Ethereum whale collective known as “7 Siblings” has reminded the market that even billion-dollar holders aren’t immune to temptation. Over just 15 hours, the group sold 19,461 ETH worth $88.2 million at an average price of $4,532, according to Onchain.
These are not novice traders flipping meme coins. Between February 3 and April 7, the “siblings” scooped up 103,543 ETH for $229.7 million, including a tidy $42.2 million buy at $1,700 in early April. The latest sales represent less of an “all out” liquidation and more of a strategic trim, with the group still sitting on roughly 1.21 million ETH valued at $5.6 billion.
ETH Under Short-Term Pressure
Ethereum is now navigating a wave of profit-taking, largely driven by short-term traders. According to the ParadiseTeam, they’re cashing out about $553 million in daily gains, leaving long-term holders mostly on the sidelines. The Ethereum Foundation joined the selling spree too, unloading 2,795 ETH for $12.7 million, reducing its ETH stash to a humble 99.9 ETH plus 11.6 million DAI.
Despite the selling, bullish voices remain. BitMEX co-founder Arthur Hayes re-entered ETH after briefly cashing out last week, while trader Yashasedu predicts a potential $8,656 ETH price if Bitcoin hits $150,000. Institutional confidence is also on display: spot ETH ETFs just posted a record $1.01 billion in daily inflows, and BitMine Immersion Technologies has announced plans to raise $20 billion for ETH purchases.
Between Trimming Profits and Shooting for the Moon
ETH may be up 43% in the last month, but the current selling pace is still well below last month’s peak. With total value locked exceeding $90 billion and whale activity both feeding and testing market nerves, Ethereum is in that deliciously tense stage where the next big move could make the patient very rich, and the impatient very regretful.
This will be discussed in our next stream. MCP News Private will track these whale movements with deeper breakdowns and live market reactions for just $3/month, about the cost of bottled water at an airport, but far more refreshing for your portfolio.
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