Ethereum's market withstands a $19.5 million whale sell-off with no price adjustment

An influential

investor offloaded 4,723 for $19.55 million on September 18, 2025, concluding a holding period that started in 2016 when the coins were bought at $7.7 each. Despite being among the most notable single-asset transactions of recent times, the sale was absorbed smoothly by the market, with Ethereum (ETH) retaining its value above $4,170 after the move. This highlights the depth and robustness of Ethereum’s market, along with the conviction of those who have held the asset long-term.

This transaction happened alongside broader whale activity—on-chain analytics showed that 90,000 ETH, valued at around $500 million, were sold within just 48 hours. Most of these sales occurred near the $4,500 mark, temporarily increasing downward pressure after Ethereum had climbed past $4,600 following a 25-basis-point rate cut by the Federal Reserve Ethereum (ETH) Price: $5,000 Rally or Drop to $4,000 as Whale … [ 1 ]. Experts observed that such large-scale sales by whales can often indicate changing market sentiment, especially when Ethereum meets technical resistance. For example, ETH struggled to surpass the $4,640-$4,700 range, which is seen as a key level for continued upward momentum Ethereum (ETH) Price: $5,000 Rally or Drop to $4,000 as Whale … [ 1 ].

The uptick in whale activity also matched outflows from spot Ethereum exchange-traded funds (ETFs). On September 18, U.S. spot ETH ETFs registered a net withdrawal of $1.89 million, continuing a trend of institutional selling even after the Fed’s rate reduction Ethereum (ETH) Price: $5,000 Rally or Drop to $4,000 as Whale … [ 1 ]. Fidelity’s FETH experienced an outflow of $29.19 million, while Bitwise’s ETHW saw $9.7 million leave during the same period Ethereum (ETH) Price: $5,000 Rally or Drop to $4,000 as Whale … [ 1 ]. These withdrawals contrast with earlier in the year, when ETF inflows fueled optimism, and now raise questions about institutional sentiment.

From a technical perspective, analysts warned that if Ethereum could not reclaim critical resistance, a pullback to $4,000 was possible. Noted crypto strategist Michael van de Poppe stressed the necessity of holding the $4,400 support zone, cautioning that a break below could prompt forced liquidations of leveraged positions Ethereum Price Prediction: Dip Likely as Massive … [ 2 ]. Additionally, TD Sequential technical signals indicated selling, with some analysts expecting a revisit to $4,570 if ETH failed to break through the $4,640 level Ethereum (ETH) Price: $5,000 Rally or Drop to $4,000 as Whale … [ 1 ].

The whale’s sale and the shifting market trends came as analysts offered conflicting price targets.

forecasted an end-of-year price for Ethereum at $4,300, with a more pessimistic outlook suggesting $2,200, whereas Standard Chartered projected a surge above $5,000 Ethereum (ETH) Price: $5,000 Rally or Drop to $4,000 as Whale … [ 1 ]. These differing projections reflect ongoing uncertainty about the macroeconomic environment and on-chain metrics for Ethereum. At the same time, the whale’s decision to sell was seen as a calculated effort to lock in profits amid growing institutional attention, as Ethereum continues to play a major role in decentralized finance (DeFi) and staking.