Analyst: 60 ETH whales exit network, signaling further downside risk

Approximately 60 whale addresses holding over 10,000 ETH have either emptied or consolidated their balances over the past two months, according to crypto analyst Ali Martinez. In a post on X, Martinez described the departure of whales in such a short period as a signal of institutional-level profit-taking and asset redistribution. "This suggests they are using recent liquidity to de-risk, indicating weak medium-term investor sentiment," he explained. Martinez added that the decline in whale numbers coincides with recent large inflows to exchanges, concluding that a further decline is likely in the short term and that he is closely watching the $2,000 psychological support level.