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ETH Looked Bullish - Then Whales Walked Into a $4B Trap
This is a good reminder that not every breakout means follow-through. While $BTC stays range-bound, Ethereum looked ready to run in mid-January - clean inverse head-and-shoulders, improving momentum, whales stepping in. On paper, everything checked out.
But price ran straight into a hidden problem: a massive supply wall. Around the $3,490–$3,510 zone, over 1.19M ETH had been accumulated earlier - roughly $4.1B worth. When ETH pushed toward that area, holders sold to break even. Demand got absorbed, and the breakout quietly failed.
🔹 ETH corrected ~16% after the breakout
🔹 ~$4B cost-basis wall capped price near $3.4K
🔹 Whales added ~1M ETH post-breakout - and got trapped
The takeaway is simple: structure alone isn’t enough. Even “correct” positioning can fail when overhead supply is heavy. Until$ETH clears that cost-basis wall convincingly, rallies risk turning into traps - not trends.
#bitcoin price prediction: What is Bitcoins next move?#