Dormant ETH Wallets Move 37,806 Ether Amid Whale Profit Squeeze
Old Ethereum wallets are stirring just as long-term whale profitability flips negative for the first time since 2019.
Something big is shifting under the surface of the Ethereum market. A cluster of old, dormant wallets just moved 37,806 ETH — and that kind of activity from hibernating addresses rarely means nothing. When wallets that haven't touched their coins in years suddenly wake up, you pay attention.
Here's the part that should have your eyes wide open: long-term whale profitability has flipped negative for the first time since 2019. These aren't panic-sellers from last month's dip. These are the heavyweights who've been holding through multiple cycles — and right now they're underwater. That's a sentiment signal you don't see often, and it cuts both ways.
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The $1,500 ETH level is shaping up as the real battleground. If whales are losing conviction at current prices, that supply overhang becomes a serious headwind for any near-term recovery. But flips like this have historically marked capitulation zones — the kind of ugly, max-pain moments that eventually clear the way for the next leg higher. You're watching a classic tug-of-war between exhausted longs and opportunistic buyers sizing up a potential bottom.
The dormant wallet movement adds another wrinkle. Are these old holders finally cashing out after years of patience, or repositioning ahead of a move they see coming? There's no clean answer yet, but the timing — right as whale profitability cracks — suggests this isn't coincidence. Smart money is making decisions, and the market will price those decisions in fast.
Watch the $1,500 zone closely. How ETH holds or breaks that level in the coming sessions will tell you whether this is a shakeout or the start of something uglier. Continue reading at Cointelegraph.
