Ethereum Faces Pressure After BlackRock Moves $29 M In ETH

The Ethereum value edged up a fraction of a proportion prior to now 24 hours to commerce at $2,940.22 as of 12:56 a.m. EST, with buying and selling quantity dropping 43% to $12.5 billion.

This ETH is underneath intense promoting strain after BlackRock deposited round 2,292 BTC ($199.8 million) and 9,976 ETH ($29.23 million) to Coinbase Prime, based on Arkham information quoted by Lookonchain.

BlackRock simply deposited 2,292 $BTC($199.8M) and 9,976 $ETH($29.23M) to Coinbase Prime.https://t.co/qmuDIrPHc6 pic.twitter.com/Fc578xdurz

— Lookonchain (@lookonchain) December 24, 2025

The transfer has sparked bearish strain, as shifting tokens to an change is generally a prerequisite of promoting.

In an analogous transfer, BitMEX co-founder Arthur Hayes deposited 682 ETH ($2 million) into Binance, a transfer which has been adopted by him promoting. In response to information from Arkham Intelligence, as proven by Lookonchain on X, Hayes has bought a complete of 1,871 ETH ($5.53 million) and purchased ENA, PENDLE, and ETHFI.

Arthur Hayes(@CryptoHayes) has simply deposited one other 682 $ETH($2M) into #Binance to promote and rotate into high-quality DeFi tokens.

Previously week, he has bought a complete of 1,871 $ETH($5.53M), and purchased 1.22M $ENA($257.5K), 137,117 $PENDLE($259K), and 132,730 $ETHFI($93K).… pic.twitter.com/2mddOY3H1t

— Lookonchain (@lookonchain) December 24, 2025

Hayes had beforehand stated that, “We’re rotating out of $ETH and into high-quality DeFi names, which we consider can outperform as fiat liquidity improves.”

As these whales promote, Tom Lee’s BitMine, the most important company holder of Ethereum globally, has purchased one other $201 million. The agency now holds round 4.07 million ETH on its stability sheet, now price round $11.97 billion.

The acquisition is a part of the corporate’s aim to carry 5% of ETH’s whole provide, now standing at 3.36% of the altcoin king.

Ethereum Value Faces Bearish Strain, As Indicators Present Uncertainty

After a profitable surge from the $2,174 assist space in July, the ETH value soared to an all-time excessive of round $4,900.

The bulls, nevertheless, didn’t maintain this excessive, as buyers began reserving earnings at this space, with the Ethereum value dropping by way of a sustained falling channel sample.

This bearish strain was additional cemented by a dying cross forming at round $3,547, the place the 200-day Easy Transferring Common (SMA) crossed above the 50-day SMA. ETH is now constantly buying and selling under each the SMAs, which places strain on the asset.

In the meantime, the Relative Power Index (RSI) is buying and selling inside the low-to-mid 40s, which locations ETH in an equilibrium, a sign that bears and bulls are in a struggle for dominance at this stage.

Nonetheless, the Transferring Common Convergence Divergence (MACD) indicator has created some uncertainty on this zone, after the blue MACD line crossed above the orange sign line. The inexperienced bars have diminished, which signifies weak momentum regardless of the MACD line forming a constructive outlook.

Primarily based on the ETH/USD chart evaluation on the each day timeframe, the ETH value is presently at a crossroads, a sign that buyers should be cautious.

If the worth of Ethereum breaks the 0.786 Fibonacci Retracement stage at $2,762, the following main assist and a cushion towards downward strain is on the 1 Fib zone ($2,174).

Conversely, if the bulls financial institution on the formation of a constructive MACD indicator, then the worth of ETH might soar to the higher boundary of the falling channel at $3,397. A sustained bullish strain might then push Ethereum to the following resistance inside the 200-day SMA at $3,582. 

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