On-chain data reveals that Ethereum whales have been persistently selling their holdings over the past six months, suggesting a less than ideal outlook for ETH.
The distribution has been substantial, with the Accumulation Trend Score indicating a consistently red score across various groups.
This trend implies potential bearish sentiment for Ethereum's price trajectory, as whale movements can often influence market dynamics significantly.
Analyst James Van Straten highlighted this concerning trend in a recent post, urging stakeholders to be cautious.
