Ethereum price slipped 5.27% over the past day to trade near $1,821, reflecting renewed market pressure.
Wider risk shading followed new macro uncertainty over U.S. tariff issues. The asset is still under the $1,900 mark following an extended bearish run.
Bitcoin price remained below $68,000, and XRP, Solana, and Dogecoin also expanded losses during the current downturn.
Ethereum Price Faces Selling Pressure as Vitalik Buterin Offloads $7.3M in ETH
Ethereum is facing renewed market scrutiny as co-founder Vitalik Buterin continues reducing his personal ETH holdings.
According to the recent data at Arkham, he sold 3,788 ETH to the tune of about 7.3 million.
According to the records available on-chain, the outflows of the wallets publically linked to Vitalik Buterin have been consistent within the past few days.
He sold 3,500 ETHs on the lending site Aave on two trading days in a row.
Based on that withdrawal, he exchanged 1,869 ETH with stablecoins on the decentralized exchange CoW Swap.
The conversion of the stable coins was approximately at 3.67 million according to the market prices at the time the conversion was made. It was the second time that this transaction was carried out based on the previous ETH transfer estimated to worth almost $29 million.
Out of that movement up to now, some two and a half million dollars were channeled into activities connected to the Ethereum Foundation. As Butterin already clarified, periodic sales are used to finance development and research in the larger Ethereum ecosystem.
He is still one of the biggest known individual holders of ETH in the world even following the recent disposals. On-chain estimates of wallets owned by him, in total, contain over 224,000 ETH.
Those holdings are worth about close to $426 million at prevailing prices and this underscores his continuing influence in the market.
U.S. Spot Bitcoin and ETH ETFs Post Sharp Net Outflows
According to Sosovalue data, U.S. spot Bitcoin ETFs posted sharp net outflows on February 23. The funds realized a combined withdrawal of 204 million throughout the trading session. The numbers indicate a new selling pressure in the key investment products in Bitcoin.
Negative flows were also recorded in Spot Ethereum ETFs during the same period. Total net outflows were 49.48 million in the segment. The ETHA fund offered by BlackRock was the first to suffer the drops of Ethereum products. It recorded the largest net outflow in a single day at 45.38 million.
ETH Price Struggles Below $1,900 Resistance, Will Sellers Push Toward $1,700?
The latest ETH price hovered at $1,825 on Tuesday, reflecting cautious market sentiment. Ethereum extended its broader pullback from the $2,000 rejection zone.
Momentum indicators reflect growing bearish pressure. The four-hour MACD is still negative with minimal bullish crossovers identified on the signal lines. The RSI is around the 30 mark, which is an indication that it is over sold.
The future Ethereum outlook showed consolidation just below the $1,900 level. An effective break over $1,900 might welcome fresh buying force. This momentum can drive ETH to a new level up to $1,950 in the short run. As long as strength is maintained the next upside target is the $2000 mark.
Source: ETH/USDT 4-hour chart: TradingviewOn the negative, immediate support is still at approximately $1,800. Any failure below $1,800 may trigger losses very fast. The next defensive level is projected to be $1,750 according to technical forecasts. The way to $1,700 might be paved by further weakness.
Source: https://coingape.com/markets/will-ethereum-price-dip-to-1500-as-vitalik-buterin-continues-selling-eth/
