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ETH fell below key support! The whale’s 61 million profits evaporated, 2650 The dollar becomes a life-and-death line

Vitalik 2025-11-24 15:14 83197人围观 ETH

👆Follow me to share cutting-edge Web3 news every day👆Enter skirt+Q: 3846328374 Ethereum (ETH) has fallen below the core support level and is now at a multi-month low. With large-scale liquidation, surge in selling pressure and collapse of confidence, mark
👆Follow me to share Web3 cutting-edge news every day👆Jinqun +Q: 3846328374
Ethereum (ETH) has fallen below core support and is now at multi-month lows. Massive liquidations, surges in selling pressure, and a collapse in confidence have continued to raise market concerns about a new bear market. Bitcoin and mainstream altcoins simultaneously lost key technical areas, and panic spread in the crypto market.

1. Market microcosm: Giant Whale lost 61 million in profits in 10 days


The well-known trader known as the "anti-CZ whale" has recently suffered a dramatic profit reversal. 10 days ago, he accumulated nearly US$100 million in profits with highly volatile positions on the Hyperliquid platform. However, as the market plummeted, his long positions in ETH and XRP suffered significant losses.


(Data source: Lookonchain)
Enter skirt +Q: 3846328374
At present, the giant whale's profit is only 38.4 million US dollars, and more than 61 million US dollars have evaporated in 10 days, and its income has shrunk by more than 60%. This kind of "profit taking" by veteran traders is a true reflection of ETH's current pressure, highlighting the rapid reversal of bullish sentiment after the key support fell.

2. Weekly crisis: $2,650 becomes the last line of defense


The ETH weekly chart has entered the life and death stage, and the technical signals are all bearish:
  • The price fell to around $2,680, which was the last important support before further declines.； This quarter continued to decline from the resistance level of $4,500, forming a mid-term decline of "lower highs + lower lows" ；
  • The 50-week moving average has completely fallen below, and is currently barely supported by the 100-week moving average (a key turning point in the historical adjustment period)；


    (Data source: TradingView) Jinqun +Q: 3846328374
  • The decline was accompanied by an increase in trading volume, confirming that the market was driven by panic selling and forced liquidation rather than rational profit-taking. If the support of $2,650 is broken, ETH may drop to the $2,300-2,400 area, which has been a strong accumulation area in previous cycles.

The current core contradiction of ETH lies in the emotional collapse and technical resonance after the key support fails. Whether the decline can be stopped in the short term depends entirely on the defensive effect of the $2650-2680 range. If the support is effective, it may attract bargain hunting funds. ； On the contrary, the probability of testing $2,300 will increase significantly.

That’s it for today’s article. I don’t know what to do in the bull market. Welcome to join the skirt+V: sun568298 for free.
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