ETH Slides as Whale Wallets Exit Amid Rising Macroeconomic Headwinds

Rising Treasury yields pushed investors away from Ethereum and other risky crypto assets. Whale wallets sold large ETH holdings, increasing bearish pressure across the market. Ethereum trades below major resistance levels as analysts watch the critical $2,000 support. Ethereum — ETH, continues facing intense pressure after a rough week across the crypto market. ETH traded near $2,110 on Tuesday after posting a small recovery, yet overall sentiment still looked weak. Investors pulled capital from risk assets after global bond yields surged sharply. The shift created another difficult environment for cryptocurrencies, especially Ethereum, which suffered heavier losses than many major digital assets. At the same time, whale activity and growing exchange inflows raised fresh concerns about weakening confidence among large holders. https://twitter.com/i/status/2057838898181558315 Whale Distribution Adds More Pressure ETH recorded massive liquidations during the latest sell-off. According to Coinglass data, ETH saw more than $700 million in long liquidations over the past week. That figure even surpassed Bitcoin’s upside liquidations during the same period. Derivatives markets already hinted at growing risks before the correction accelerated. Onchain data also reflected continued distribution from large and mid-sized holders. CryptoQuant reported that wallets holding between 100 and 10,000 ETH sold a combined 386,000 ETH from May 11 to May 18. That trend has persisted for months and continues weighing on market confidence. Although whales initially bought the dip and accumulated around 330,000 ETH during that stretch, conviction weakened shortly afterward. Those same holders later reduced exposure by roughly 60,000 ETH in the following days, This signalled hesitation around current price levels. Popular analyst Ali Charts highlighted another troubling pattern across social media. Roughly 60 whale addresses holding at least 10,000 ETH either emptied balances or consolidated funds during the past two months. Heavy exchange inflows also accompanied that activity, increasing concerns about potential selling pressure ahead. Technical Structure Still Favors Sellers Ethereum’s technical outlook remains fragile across several timeframes. On the daily chart, ETH continues trading below the 20-day, 50-day, and 100-day exponential moving averages. Those resistance zones currently sit between $2,245 and $2,333, creating strong barriers for buyers attempting a recovery. Momentum indicators also continue showing weakness. The Relative Strength Index remains near 34, reflecting fading buying strength, while the Stochastic Oscillator sits near 12. Analyst Crypto Patel recently noted that Ethereum broke below a major rising trendline near $2,170. That breakdown shifted the broader structure bearish and opened the door for deeper downside targets. Crypto Patel now watches $1,500 as a possible support area while using $2,327 as invalidation for the bearish outlook. Shorter timeframes still favor sellers as well. ETH currently faces immediate resistance near $2,120, followed by stronger barriers around $2,150 and $2,200. If buyers fail to reclaim those levels, another move toward $2,075 could follow quickly. Below that, the psychological $2,000 support level remains the most important area traders continue monitoring closely.