Ethereum Price Declines as a Whale Accumulates Tokens Worth $1.67 Billion

Ethereum's price has dropped for the second day in a row due to declining market sentiment and liquidity concerns caused by large sell-offs. Nevertheless, a significant whale has been purchasing Ethereum tokens, raising hopes for a market rebound.

Key Takeaways

The price of Ethereum fell to $2,900, down from a yearly high of $4,960.
Arthur Hayes, founder of BitMex, has sold over $5 million worth of Ethereum this month but retains over $22 million in the asset.
A major whale has purchased $136.49 million in Ethereum today, totaling $1.67 billion since November 4.
Tom Lee’s BitMine has acquired 436,361 tokens in the last month and aims to hold 5% of Ethereum's market capitalization.
Technical analysis suggests a bearish outlook for Ethereum's price, with potential support levels identified.

Ethereum price drops as whale buys tokens worth $1.67 billion - 1

Ethereum Price Movements

Ethereum's price has decreased over the last couple of days as the overall crypto market sentiment dims. After peaking at $4,960 earlier this year, Ethereum has slid down to a low of $2,900. This decline is reflective of broader trends within the cryptocurrency sector.

Amidst these downturns, Arthur Hayes has been notable for his continuous selling activities. Recently, he transferred 682 ETH tokens, valued at almost $2 million. Data from Arkham indicates he has sold ETH worth over $5 million just this month while increasing his investments in projects like Pendle, Ethena, and Ether Fi. Despite these sales, Hayes still holds Ethereum tokens valued at over $22 million.

Interestingly, while some investors are concerned, others are seizing opportunities. A prominent whale purchased $136.49 million worth of Ethereum today alone, bringing their total investments since November 4 to a staggering $1.67 billion.

A whale has bought $136,493,000 in $ETH today.

Since November 4th, this whale has bought $1,670,000,000 in Ethereum. pic.twitter.com/42Rh1CjaPa — Ted (@TedPillows) December 24, 2025

Additionally, Tom Lee's BitMine has continued its acquisition strategy, purchasing 436,361 Ethereum tokens over the past month, which represents 3.6% of the total market capitalization. Lee aspires to ultimately control 5% of Ethereum, forecasting substantial earnings from staking rewards in the future. He has underlined Ethereum's pivotal position within the crypto space, emphasizing its dominance in sectors such as decentralized finance, asset tokenization, and stablecoins.

Ethereum Price Technical Analysis

ethereum price
ETH price chart | Source: crypto.news

Recent technical analysis reveals a concerning trend for Ethereum’s price, which has seen a significant decrease over the past few months, dropping from a peak of $4,960 to approximately $2,915.

This downward movement has encountered support from the 50-day and 200-day moving averages, leading to a bearish crossover in November. A bearish flag pattern has also emerged, indicating further downside potential.

Based on this analysis, it appears that Ethereum's price trajectory is leaning towards a bearish outlook, with an initial target around the $2,622 mark. If prices dip below that level, a deeper decline could push Ethereum towards the psychological threshold of $2,000.