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BTC 
ETH Large Ethereum households sold 226,000 ETH worth approximately US$430 million in a single day.
As the price of Ethereum (ETH) hovered below the US$2000 mark, addresses that hold a large number of Ethereum sold approximately 226,435 coins worth approximately US$430 million in one day.
Highlights:
Whale Wallet reduced its holdings of approximately 226,435 ETH units within 24 hours, setting one of the largest single-day reductions in recent weeks.
The same group still holds positions close to 22% of the circulating supply and may continue to sell off in the future.
Exchange balances are near ten-year lows, and bulls use them as a basis to hedge against selling pressure.
Ethereum whale sell-off reached 226,435 ETH
Analyst Ali Martinez flagged the transfers on Wednesday, calling them one of the most intense whale activity in recent weeks. This group's wallets still control approximately 26.64 million tokens in total.
This position is close to 22% of the circulating supply, making this group's next move a lot of attention. Martinez said he was focusing on the key level of $1773 and warned that if that support fell below, the current bullish logic would temporarily expire. A sell-off of this magnitude often shakes the confidence of small holders, who tend to follow the big wallets and leave the market rather than absorb the selling pressure themselves.
Ethereum supply tightens ahead of Fed decision
Ethereum opened at $1,919.73 on Wednesday, up 1.5% from Tuesday, before falling back to about $1905 before noon in New York. Bitcoin (BTC) is basically unchanged. Digital asset traders have generally reduced their positions ahead of the Federal Reserve's interest rate decision, and interest rate futures pricing shows that the probability of a rate hike is about one-third after a significant re-pricing this month.
Sean Farrell, head of digital assets at Fundstrat, said that for the cryptocurrency market, central bank rhetoric on inflation and financial conditions is more important than the policy decisions themselves. He expects officials to keep interest rates unchanged while sending hawkish signals, but does not rule out the possibility of raising interest rates, which will tighten the overall environment for risky assets.
The supply side showed the opposite trend. The balance of the centralized exchange has dropped to approximately 15.1 million ETH, down from more than 21 million a year ago; and tokens in pledge contracts cannot quickly enter the order book. In addition, the U.S. spot Ethereum fund recorded its strongest weekly inflow since April in mid-month.
There are significant differences in Ethereum price targets
Martinez pointed out on July 24 that Ethereum must hold US$1850 to break through the US$2000 mark, and will regard US$2060 as an upward target on the premise that the rising channel on the hourly chart is maintained. Other chart analysts interpreted the same trend as a trap, with anonymous trader Crypto Lens predicting that Ethereum will first test US$2000 and then fall back to the US$1400 to US$900 range.
Broader historical data explains this caution. Ethereum has closed down for three consecutive quarters, the first time in data in the past decade; its price fell from above $2900 in January to a low of about $1472 in April. The token is still down about 62% from the all-time high of approximately US$4954 set in August 2024.
