Large ETH holders sold or redistributed 226,435 coins over 24 hours, worth roughly $430 million, one of the largest spikes in whale activity recently. Ether opened at $1,919.73 on Wednesday and slipped to $1,904.82 hours later, ahead of the Fed's rate decision. Analysts tracking the move set targets from a $900 bottom to $2,773.
Large holders sold or redistributed 226,435 ETH over the last 24 hours, a stash worth roughly $430 million at current rates. Ali Martinez, who flagged the move, said these investors now control 26.64 million coins, about 22% of the asset's circulating supply.
Such whale sell-offs are usually viewed as concerning factors that could spread panic and prompt smaller players to cash out too. Martinez said he is paying close attention to the $1,773 level, claiming that a breakdown below it could "put the current bullish outlook on hold."
Ether trades at $1,904.82 before the Fed decision
Ethereum opened at $1,919.73 on Wednesday, July 29, 2026, up 1.5% from Tuesday's opening price. The price then moved lower to $1,904.82 as of 8:56 a.m. ET. That leaves the opening price down 0.4% from a week ago but 22.3% above where it stood a month earlier.
Bitcoin and ethereum are moving in opposite directions this morning following renewed airstrikes in the Middle East and ahead of the Fed's rate decision later this afternoon, which crypto investors will be paying very close attention to.
Bears point to a $1,400-$900 bottom
X user Crypto Lens thinks ETH is stuck at the $1,860-$1,955 range for a reason, suggesting that the real bull trap is just getting started. In their view, the price may jump as high as $2,000, but shortly after it might collapse to a final bottom test in the $1,400-$900 zone.
Bulls watch $2,773
Martinez struck a different tone earlier this week. He spotted the formation of a golden cross on the asset's price chart and outlined the $1,980-$2,080 range as the first major resistance zone. If bulls clear that zone, he said, the next key level he is watching sits at $2,773.
Other forecasters aim higher. MikybullCrypto called ETH one of the best plays right now and projected a 5x move from current levels. Gordon claimed that once the price breaks above $2K, there will be no looking back.
Sources: CryptoPotato, Yahoo Personal Finance
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