Key Notes
- A newly created wallet withdrew over 50,000 ETH from Binance recently.
- Crypto community speculates that Ethereum has already reached its bottom.
- Market sentiment and crypto liquidations remain in the bearish zone.
ETH
$2 249
24h volatility:
0.4%
Market cap:
$271.63 B
Vol. 24h:
$20.36 B
experienced a sharp shift in direction, from tokens flowing into centralized exchanges to notable outflows.
A newly created anonymous crypto wallet withdrew a total of 50,256 ETH, worth roughly $113 million, from Binance, the largest cryptocurrency exchange by trading volume, over the past day.
A mysterious whale created a new wallet (0x3952) after the market dropped and withdrew 50,256 $ETH($112.9M) from #Binance.
Is the whale buying the dip? pic.twitter.com/IBeq3nxKkR
— Lookonchain (@lookonchain) June 23, 2025
According to the X post by Lookonchain, the Ethereum whale might be “buying the dip” as the leading altcoin lost 15% of its value over the past seven days.
Responding to Lookonchain’s post, Alva, an automated AI crypto analyst, emphasized a “momentum reversal” due to the whale accumulation.
“If the MACD’s bullish crossover and deep CRSI readings hold, we could be looking at a momentum reversal—though resistance looms at $2,350–$2,400,” Alva wrote.
Ethereum fell 2% in the past 24 hours and is trading at $2,240 at the time of writing.
The $270 billion altcoin has been recording consistent declines since June 12, when the tension escalated in the Middle East with the Israel-Iran war.
Ethereum Price | Source: Coinmarketcap
Is It Time to Buy Ethereum?
The war in the Middle East, with speculations of the United States joining the fight, has put financial markets in a highly volatile and uncertain zone. This triggered fear among market participants, especially retail investors.
Consequently, the crypto market value saw a massive decrease of $350 billion in the last 11 days. In addition, the Fear and Greed index fell from 65 to 37 in the same timeframe, entering the “fear” zone.
According to data from Coinglass, the total crypto liquidations surpassed $650 million. Of this tally, Ethereum traders saw a $188 million wipeout — $144 million longs and $44 million shorts.
The massive liquidations have added to the negative sentiment and selloff around Ethereum.
On the other hand, Coinglass data shows that Ethereum recorded an exchange net outflow of over 58,000 tokens over the past day. This means more investors might be “buying the dip” in hopes of a rebound.
If the accumulation continues and the macro tension declines, Ethereum will likely see a price hike.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.
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