Ethereum Whales Dump $880M in ETH as Key Support Comes Under Pressure

• Ethereum whales sold 550,000 ETH worth $880 million, increasing market selling pressure.
• ETH is testing crucial support at $1,583 as analysts warn of potential liquidation risks.
• Corporate buyers continue accumulating ETH, but ETF outflows still weigh on market sentiment.

Ethereum remains under selling pressure after large holders offloaded approximately $880 million worth of ETH within one week. The heavy distribution has pushed the cryptocurrency below a key support level, while analysts warn that continued selling could expose Ethereum to deeper losses if buyers fail to defend critical price zones.

Whale Selling Increases Downside Pressure

Ethereum whales sold roughly 550,000 ETH during the past week, adding an estimated $880 million in fresh supply to the market. The large-scale distribution has intensified bearish sentiment as investors continue monitoring whether institutional and retail demand can absorb the additional selling pressure.

According to market analyst Ali Martinez, the heavy selling contributed to Ethereum falling below the immediate support level around $1,633. Consequently, traders have shifted their focus toward the next important support near $1,583, where historical trading activity indicates strong market interest.

ETH WHALES SELL $880 MILLION IN ONE WEEK

Large-scale holders have offloaded roughly 550,000 ETH over the past week, injecting $880 million in sell-side supply into the market.

This heavy selling volume has successfully pushed Ethereum below its immediate $1,633 support floor.… https://t.co/2n4rVK4oTK pic.twitter.com/7g1zSPepez

— Ali Charts (@alicharts) June 28, 2026

Martinez explained that failure to hold the $1,583 level could trigger broader liquidations across the market. If selling continues into the coming week, Ethereum may revisit lower demand zones around $1,237 and $1,089, where previous trading volume suggests buyers could eventually return.

The latest whale activity also reflects growing caution among large investors as Ethereum struggles to establish a sustained recovery despite recent price stabilization.

Analysts Watch Critical Ethereum Price Levels

At press time, Ethereum currently trades near the $1,570 range after recovering modestly from its recent decline toward $1,500. However, analysts believe the broader trend remains fragile because the asset continues trading below several important resistance levels.

Crypto analyst Ted Pillows stated on X that Ethereum remains inside a critical support zone. He noted that a decisive breakout above $1,700 would strengthen bullish momentum and improve the market outlook during the coming sessions.

$ETH is currently in the support zone.

A breakout above the $1,700 level is what bulls need.

Meanwhile, a breakdown below $1,500 is what bears are pushing for a new cycle low. pic.twitter.com/p8MQuokbM2

— Ted (@TedPillows) June 28, 2026

Meanwhile, a sustained decline below $1,500 would likely encourage additional selling pressure. Such a move could expose Ethereum to another cycle low as bearish traders attempt to extend the existing downtrend.

Although weekend trading remained relatively calm, buyers have yet to demonstrate sufficient strength to reclaim higher resistance levels above $1,800.

Institutional Demand Offers Limited Support

While whales continue reducing exposure, some corporate investors have maintained accumulation strategies despite ongoing market weakness. Their purchases have provided some positive sentiment, although they have not reversed Ethereum’s broader downward trend.

Recent reports indicate that SharpLink resumed buying Ethereum after an extended pause, adding more than $62 million worth of ETH over several days. BitMine has also continued expanding its Ethereum holdings despite declining prices.

Even so, institutional buying has not fully offset persistent ETF outflows and whale selling. Negative fund flows have weakened an important source of spot market demand, making recovery efforts increasingly difficult.

For now, market participants remain focused on whether Ethereum can defend the $1,583 support area. Holding above that level may stabilize sentiment, whereas another breakdown could increase downside risks and delay any meaningful price recovery.