Ethereum Price Slumps Amid Rising Treasury Yields and Whale Selling Pressure

Ethereum's price has been under pressure in recent days, with investors pulling capital from risk assets due to rising Treasury yields. According to data from Coinglass, Ethereum saw over $700 million in long liquidations during the latest sell-off, surpassing Bitcoin's upside liquidations.

The sale of large ETH holdings by whale wallets has contributed to the bearish sentiment across the market. CryptoQuant reported that wallets holding between 100 and 10,000 ETH sold a combined 386,000 ETH from May 11 to May 18. This trend has persisted for months and continues weighing on market confidence.

The technical outlook for Ethereum remains fragile, with the price trading below major resistance levels. Momentum indicators show weakness, with the Relative Strength Index near 34 and the Stochastic Oscillator at 12. Analysts are monitoring the critical $2,000 support level closely, which could be a key area of focus if buyers fail to reclaim higher levels.