Dormant Wallets Move 37,806 ETH Amid Whale Profit Squeeze
Old Ethereum wallets just woke up, moving nearly 38K ETH as long-term whale profitability flips negative for the first time since 2019.
Something big is stirring in Ethereum's deep waters. Old, dormant wallets just shifted 37,806 ETH — a move that doesn't happen without reason. When wallets that haven't touched their holdings in years suddenly wake up, you pay attention. That's not routine portfolio rebalancing. That's conviction shifting.
Here's the part that should make you think twice before loading up on ETH right now: long-term whale profitability just turned negative for the first time since 2019. That's a five-year streak snapped. These are the hands that were supposed to be the strongest in the market — and they're underwater. When the biggest players stop making money, the pressure to capitulate builds fast.
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The $1,500 level is the line in the sand. ETH holding above it keeps a floor under short-term sentiment. Break it, and you've got a different conversation entirely — one where even long-term holders start questioning the thesis. Negative profitability among whales historically precedes either a major flush or a major accumulation phase. Right now, the market is deciding which one this is.
Mixed sentiment is exactly the right word for this setup. Dormant wallets moving coins could mean distribution — old money cashing out into strength. Or it could mean consolidation, reshuffling holdings ahead of a bigger move. You won't know until price confirms it. What you do know is that the smart money is actively repositioning, not sitting still.
Watch the $1,500 level like a hawk. Watch whether those whale wallets moved into exchanges or cold storage. That detail tells you everything about intent. Continue reading at Cointelegraph.
