Ethereum Prices Fluctuate as Key Holders Adjust Their Positions

Recent announcements regarding a strategic crypto reserve by US President Donald Trump, including Ethereum and other major cryptocurrencies, triggered significant price volatility.

On March 2nd, ETH was priced at $2,191, peaked at $2,542 on March 3rd, then fell below $2,300, closing around $2,050 the next day.
Data from Glassnode indicates that ETH holders adjusted their portfolios amid these fluctuations.
Investors who acquired ETH at $3,500 hold 1.75 million ETH, now down 10% since their purchase.
On March 1st, 500k ETH were purchased at an average of $2,200, with quick redistribution when the price reached $2,500.
A new resistance level has emerged at $2,800, following the accumulation of 800k tokens.

Accumulation Among Whales

A notable whale recently acquired 17,855 ETH for approximately $36 million, averaging $2,054 per token.
This investor's holdings are valued at $2.5 billion, reflecting a trend of accumulation in the current market.

Current Market Conditions

ETH is currently trading between $2,100 and $2,300, significantly lower than its Monday price of $3,500.
The MVRV ratio for ETH has dropped below 1, indicating potential undervaluation.
More ETH addresses are accumulating tokens, suggesting institutional interest.
Macro conditions may still influence future price movements, including tariff measures and monetary strategies.