The ongoing crypto market downturn has forced one large Ethereum holder into a costly retreat, with on-chain data showing a multi-million-dollar sell-off executed at a significant loss.
- On-chain data reveals a major Ethereum holder made a large transfer to Binance.
- Ethereum continues to face heavy volatility across both spot and derivatives markets.
- Analysts are watching key technical levels for signs of short-term stabilization.
- Broader market sentiment remains cautious following recent liquidations.
Whale Sells Thousands of ETH in Market Panic
Data from blockchain analytics platform Arkham shows that a wallet identified as “0x1b57” sent a total of 5,570 ETH (around $19.56 million) to Binance in three separate transactions: 2,070 ETH, 2,000 ETH, and 1,500 ETH. The wallet had accumulated these tokens just five days earlier from Binance’s hot wallets—an attempt to buy the dip that ended in a swift capitulation as prices fell further.
The quick liquidation resulted in an estimated $2.15 million loss, demonstrating how volatile conditions can turn even high-capital bets into losing trades when the market turns risk-off. Large whale movements like this often amplify price swings, especially when executed during periods of weak liquidity and broader selling pressure.
Whale 0x1b57 sold the 5,570 $ETH($19.56M) he bought 5 days ago, taking a $2.15M loss!
He tried to catch the bottom — but it turns out, there was more bottom waiting for him. 💀https://t.co/VWwESnTvB3 pic.twitter.com/jyT8JS9D4c
— Lookonchain (@lookonchain) November 4, 2025
Ethereum Price Extends Losses
At the time of writing, Ethereum trades at $3,321, marking a 5% daily decline and a steep 17.6% loss for the week. The token’s market capitalization has fallen to $400.8 billion, while 24-hour trading volume stands at $80.7 billion, indicating high volatility and heavy exchange activity.
Technically, Ethereum has broken below its 50-day simple moving average (SMA) at $4,094, confirming short-term bearish momentum. The next key support now lies near the 200-day SMA at approximately $3,316—a level traders are closely watching for potential stabilization.
The Relative Strength Index (RSI) currently sits at 31, approaching oversold territory, suggesting that selling momentum may be reaching exhaustion. Meanwhile, the MACD histogram remains negative, though its convergence pattern hints that a possible rebound could emerge if buying pressure returns.
Market Sentiment Remains Fragile
Ethereum’s sharp decline mirrors the broader crypto market, which continues to experience substantial capital outflows amid global risk aversion. Analysts note that large-scale liquidations from whales and leveraged traders have compounded recent losses across major altcoins.
While Ethereum’s fundamentals remain intact, the latest whale dump highlights the fragility of market sentiment in the face of macro uncertainty. Traders are now watching whether ETH can hold above $3,300 to prevent a deeper correction toward the $3,000 mark.
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Source: https://coindoo.com/whale-offloads-over-5500-eth-at-a-loss-as-ethereum-price-extends-decline/