Whales withdraw $122M ETH from FalconX, Kraken to self-custody wallets

Three whales pull $122M in ETH from FalconX and Kraken

Ethereum stays below $1,700 as three whale wallets withdrew $122.29 million from institutional venues. Price hovers near $1,620 after a brief slide toward $1,500.

- Arkham data shows three addresses moved $122.29M in ETH off FalconX and Kraken, with two fresh wallets involved source: Arkham.
- One address holds an unrealized loss of about $9.1M on prior ETH buys yet continued withdrawing to custody source: Arkham.

Market structure turned bearish after a clean break below the February support zone at $1,800–$1,900. The bounce has been weak and failed to retake resistance source: chart.

Trend is down. Lower highs and lows persist since the May peak near $2,400. The 50D and 100D MAs slope lower above current price. The 200D sits near $2,450, out of reach source: chart.

Key levels now: $1,500 as the local low to defend. $1,850 as former support to reclaim for any trend shift source: chart.