Coinspeaker
2 hours ago
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BEARISH 📉 : Ethereum drops 9% as long-term holders increase buying

Ethereum Price Decline

  • Ethereum ([ETH](https://holder.io/coins/eth/)) fell 9% to $2,165 on Feb. 2, losing over $25 billion in market cap.
  • The price drop extends a week-long decline, with a 23% decrease in the past seven days.
  • Institutional players are reducing exposure, while long-term holders are accumulating ETH.

Bitmine's Situation

  • Bitmine holds 4.24 million ETH bought at an average price of $3,882, now facing over $6 billion in unrealized losses.

Trend Research's Actions

  • Trend Research deposited 20,000 ETH into Binance and withdrew 77.5 million [USDT](https://holder.io/coins/usdt/) to repay loans, still holding 418,045 ETH.

Ethereum OGs Activity

  • Two dormant wallets became active, depositing 44,490 ETH into Aave, borrowing 104 million USDT to buy more ETH.
  • An OTC whale purchased 30,392 ETH worth $70.12 million.

Market Analysis

  • The sell-off led to significant liquidations, breaking below the 200-day moving average last breached in March 2025.
  • Analyst Crypto Patel suggests current prices as a buying opportunity, with support around $1,850-$1,550.

Bitcoin Hyper Presale

  • Bitcoin Hyper (HYPER) raised $31.19 million during its presale.
  • Utilizes Solana-based technology for faster transactions and reduced costs, priced at $0.013675.