Can Ethereum Reclaim $2,700 After $111M Whale Exit?
Ethereum recently experienced a significant downward correction as the broader digital asset market registered a three percent decline in total market capitalization according to CoinMarketCap data. AMBCrypto reports that altcoins bore the brunt of the recent sell-off, with Ethereum dropping sharply from a high of $2,788 down to an intraday low of $2,635 before recovering slightly toward $2,692.
The sudden price contraction triggered extensive liquidations across derivatives markets. Long positions accounted for more than $96 million in forced liquidations, bringing total liquidations for the asset to approximately $114 million. This wave of volatility induced widespread panic and fear among short-term traders.
Amid the market turbulence, a notable whale address capitulated and executed a large-scale exit. According to market tracking data cited by AMBCrypto, the whale dumped 42,005 ETH valued at roughly $111.89 million during the price dip. Analysts are closely watching order books and on-chain metrics to determine whether network demand can absorb this sudden influx of supply and help the asset reclaim the $2,700 threshold.
Market participants continue to monitor macro indicators and exchange inflows to gauge whether the correction has fully exhausted selling pressure or if further downside volatility remains likely in the near term.
Based on reporting by ambcrypto.com.
