A solo Ethereum wallet labeled 0xB4d3 sold 20,000 ETH worth $41.18 million in under an hour at an average price of $2,059. Spot ETH exchange-traded funds recorded net outflows of $6.67 million on May 22, extending a ten-day outflow streak. ETH is trading near the $2,059 area, with $2,000 identified as the critical support zone. A confirmed break and close below $2,000 could accelerate stop-loss cascades, prompt additional selling from holders with cost bases above $2,000, and test remaining spot ETH ETF investor conviction. Market conditions are also influenced by expectations around tighter monetary policy following the swearing-in of Federal Reserve Chair Kevin Warsh.
"Wallet 0xB4d3 sold 20,000 ETH worth $41.18M at an average price of $2,059. Spot ETH ETFs logged their tenth straight day of outflows on May 22, with $6.67M exiting in a single session. ETH's $2,000 level is the critical support zone to watch as institutional and whale selling pressure intensifies."
"A large ethereum holder (identified as wallet 0xB4d3) sold 20,000 ETH valued at $41.18 in a single session, representing a concentrated burst of sell-side pressure in a market already struggling for direction. ETH was trading near the $2,059 level at the time of the transaction, a zone that analysts widely consider the last significant support before the psychologically important $2,000 threshold."
"Spot ethereum exchange-traded funds (ETFs) in the U.S. recorded net outflows of $6.67 million on May 22, marking the tenth consecutive day of outflows for the asset class. Spot Ethereum ETFs saw a total net outflow of $6.67 million, extending their outflow streak to 10 days."
"For ETH, the $2,000 mark carries meaningful technical weight as a confirmed break and close below the figure could accelerate stop-loss cascades, trigger additional selling from holders with cost bases above that level, and test the conviction of remaining spot ETH ETF investors."
Read at news.bitcoin.com
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