Whales Load Up on ETH 19% Below ATH: Is a Big Ethereum Move Brewing?

Ethereum (ETH) is trading near $4,000 after bouncing from a low of $3,900 earlier this ￰0￱ the token is up about 4% over the past seven days, it has seen a decline of 3% in the last 24 ￰1￱ remains about 19% below its all-time high of $4,950 (CoinGecko). Data from Alphractal shows a sharp increase in the number of Ethereum addresses holding more than 1,000 ￰2￱ rise in large wallet balances has drawn attention in recent ￰3￱ Leaves Exchanges as Supply Shrinks Supporting this, data from CryptoQuant shows ETH reserves across all exchanges have dropped by about 1 million coins since late ￰4￱ figure has fallen from 16.8 million to 15.8 million ETH, indicating a steady outflow over the past month.

Meanwhile, these withdrawals suggest ETH is moving into self-custody, a sign often seen as a longer-term ￰5￱ price has held steady above $4,000 during this shift, suggesting reduced sell pressure in the short term.