Dormant Ethereum Wallets Move 37,806 ETH Amid Whale Profit Squeeze
Old Ether wallets shifted 37,806 ETH as long-term whale profitability turned negative for the first time since 2019.
Dormant Ethereum wallets reactivated this week, moving a combined 37,806 ETH as large holders face a critical test of conviction around the $1,500 price level, according to data reported by Cointelegraph. The sudden movement from older wallets drew attention across the crypto market, coming at a moment when on-chain metrics suggest growing stress among heavyweight investors.
Long-term whale profitability turned negative for the first time since 2019, a threshold that historically marks a pivotal juncture for Ethereum price action. When major holders who accumulated ETH over years begin sitting on unrealized losses, it raises the question of whether they will absorb the pressure or accelerate selling, sending mixed signals throughout the market.
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The $1,500 zone is now widely watched as a battleground between sellers looking to cut exposure and buyers who view current prices as a long-term entry point. The reactivation of old wallets adds complexity to that picture, since coins moving after extended dormancy can indicate either strategic repositioning or capitulation — outcomes with very different implications for near-term price direction.
Market analysts note that the last time whale profitability dipped into negative territory in 2019, it preceded a prolonged period of consolidation before Ethereum staged a recovery. Whether history repeats depends heavily on broader macro conditions and whether institutional demand is sufficient to absorb any supply surge from distressed long-term holders.
Continue reading at Cointelegraph.
