Dormant Ethereum Whales Sell Amid Whale Rotation

Ethereum's price faced downward pressure as long-dormant wallets sold their ETH holdings for the first time in years. According to Lookonchain data, eight-year-old Ether wallets moved 37,806 ETH after holding onto the coins since 2017.

The sales cleared near $1,560 and generated approximately $27.4 million in realized profit. This outcome indicates that old holders still exited with gains, even after the broader drawdown, which matters because these coins had survived earlier periods of higher unrealized value.

A separate whale was tracked by Lookonchain making a fresh buying trade, swapping 464 Bitcoin worth $27.6 million for 17,750 Ether. This suggests some large investors rotated capital from Bitcoin into ETH crypto exposure.