- Ethereum monthly performance reveals that Q1 2025 has been its most bearish.
- Are long term holders selling? Ethereum whale address regains activity after almost a decade.
- Whale liquidations threaten to send ETH lower.
ETH’s price action is on track to conclude March in the red by more than 17% courtesy of the latest bearish wave last week.
This makes Q1 2025 Ethereum’s most bearish Q1 in its first decade of existence. Ethereum price was overall bearish by 1.28% in January and 32.2% in February 2025.
This means it will be the only Q1 in Ethereum’s history where all three months were in the red.
The other most bearish Q1 was in 2018, during which it dipped by 23.6% in February and 53.7% in March of the same year. All the other Q1s in previous years either had 2 bullish months.
Ethereum Long Term Holder Status
Could the latest wave of sell pressure dampen ETH’s prospects of a bullish outcome? That depends on multiple factors, among them including whether institutional and whale buyers are buying the dip.
Onchain Lens recently revealed that an account that has been around for almost 10 years just moved 1 ETH.
While this may not be much in the grand scheme of things, it does raise questions as to why that account suddenly became active.
Interestingly as far as whale activity is concerned, large holder flows remained positive since 22 March, indicating that some whales have been accumulating on the way down.
Large holder netflows hovered around 52,360 ETH as of 29 March. That equates to almost $100 million worth of net liquidity flows into ETH.
This suggests that some whales bought near the recent lows which also marks a retest of ETH’s 4-week support.
ETH’s MFI indicator also revealed that the recent liquidity outflows leveled out as of the last 24 hours. However, on-chain data also highlighted risk of more downside.
ETH Whales Risk Liquidations That Could Trigger More Sell Pressure
According to Onchain Lens, two whales had open positions at risk of liquidations with a total of 125,603 ETH at risk.
According to the report, the two whale positions would be liquidated at the $1,805 price point.
This means the two whales might be forced to buy more ETH before being margin called.
It also highlights what’s at risk if prices fall lower. ETH has been showing significant correlation with the stock market.
The latter has been facing a lot of bearish pressure under recent conditions, meaning ETH price could be at risk of more downside if market conditions maintain the status quo.
These concerns suggest that there is considerable risk that ETH could potentially drop below $1,800 in the coming days.
Some analysts suggest that it could even drop closer to $1,000 in the coming weeks.
On the other hand, ETH’s latest downside has resulted in a support retest which means there is a chance that demand may make another attempt at recovery.
If this happens, then ETH bulls could potentially receive enough confidence boost to pursue another attempt to secure dominance.
Source: thecoinrepublic.com
