The unrealized profit of investors holding between 10,000 and 100,000 ETH has reached its highest levels since November 2021, at the peak of the previous Ethereum “bull” market. CryptoQuant analysts reported that the increase in this metric among so-called “mid-tier” whales may indicate a heightened risk of profit-taking by large holders.
This is reported by Business • Media
Market Situation and Whale Behavior
Historically, similar levels of unrealized profit have often preceded waves of active selling or profit-taking among major players. During such periods, holders of significant amounts of ETH tend to sell a portion of their assets to lock in profits. However, analysts emphasize that the current situation does not necessarily lead to an immediate market correction. They believe that the market is currently at a critical stage where the psychological state of investors and the subsequent actions of whales could significantly impact price dynamics.
“Historically, such levels of unrealized profit have often been accompanied by increased selling pressure or profit-taking activity when large holders sought to secure their gains,” the report states.
Price Dynamics and Forecasts
Bybit partner Lennart Snyder noted a slight increase in Ethereum following the Federal Reserve’s 0.25% cut in the base interest rate. According to him, Ethereum tested a key resistance level of $4630. If this level is surpassed, a growth impulse to approximately $4800 is possible. Currently, the price of ETH is hovering around the $4600 mark.
It is worth noting that according to Citigroup’s forecast, the price of Ethereum could fall to $4300 by the end of the current year.