Whale Shuffles $26.87M ETH to Exchange, Market Shrugs 🐳

A wallet linked to Satofashi, also known as Chun Wang, moved 16,842 ETH worth $26.87 million to an exchange while Ethereum traded near $1,622, according to Lookonchain. The whale originally accumulated 91,945 ETH worth $159.9 million during late May and June at an average price of $1,749, when ETH was trading around $2,100. A sale at current levels would lock in a realized loss of roughly $2.66 million, though the bulk of the wallet's ETH remains untouched, pointing to repositioning rather than a full exit.

The transfer coincided with continued exchange inflows. CryptoQuant data shows Ethereum's Exchange Netflow stayed positive over the past two days, reaching 14,000 at press time, meaning more ETH moved onto exchanges than left them. Despite that buildup, ETH has held above the $1,500 support, rising 2.8% over the past 24 hours after spending the past week hovering around $1,600 following a drop to $1,510.

Technical indicators have begun to soften the bearish tone without reversing it. The MACD remained below zero but completed a bullish crossover, climbing to -64, while the Bull vs Bear indicator turned positive for two consecutive days after seven straight sessions in negative territory. Read together, the signals suggest easing downside momentum rather than a confirmed bullish reversal.

A continued recovery could carry Ethereum toward $1,777, the analysis noted. On the other hand, sustained inflows from large holders could weigh on price and reopen the path back to the $1,500 support level that has so far held this month.