The Ethereum chart is telling a story that many retail traders are ignoring. While we see a "relief bounce" to $2,320, the on-chain data shows a massive Whale De-risking event.
📉 The $370 Million Move
In the last 48 hours, two massive ETH whales dumped a combined $371 million into exchanges.
The "BitcoinOG" Wallet: Transferred 121,185 ETH to Binance to repay massive debts on Aave.
The Goal: They aren't just selling because they're "bearish"—they are deleveraging. They are protecting their remaining billions by cutting risk at the $2,300 level.
⚠️ The $2,200 Line in the Sand
On-chain inflows peaked this week with 600,000 ETH moving onto major exchanges in a single day. Historically, this "Whale De-risk" signal precedes a volatility spike.
Support: $2,160 – $2,200 (If this breaks, $1,800 is the next stop).
Resistance: $2,450 (The 200-week Moving Average). We must reclaim this to stop the bleeding.
🔄 Rotation or Capitulation?
Interestingly, while some whales de-risk ETH, they aren't leaving crypto. We see a clear rotation into stablecoin yields and high-conviction altcoins. They are waiting for the "ETH ETF" flows to stabilize before re-entering.
💡 My Opinion:
Don't get caught in the "Dead Cat Bounce." Whales are de-risking because they expect a choppy February. If you are 10x long here, you are playing with fire.
Smart Move: Watch the exchange outflow. When these whales stop "de-risking" and start "re-accumulating" (outflows > inflows), that is your signal to go heavy.
📊 Quick Stats (Feb 5, 2026):
ETH Price: $2,315
Fear & Greed: 16 (Extreme Fear)
Whale Exchange Inflow: High 🔴
What’s your move? Are you holding your ETH through the storm, or following the whales and de-risking? 👇
#Ethereum #ETH #WhaleAlert #CryptoStrategy #BinanceSquare #DeRisking