A significant Ethereum whale has returned to network activity after nearly a decade of inactivity. According to reports from AMBCrypto, a whale that acquired 69,400 ETH during the 2015 ICO became active again after nine years, moving 69,878 ETH worth nearly $157 million across three newly created addresses. The transfer represents one of the most notable dormant wallet movements in Ethereum's history, as the wallet had remained inactive since the early ICO period.
Despite the attention around the transfer, the movement appeared neutral for Ethereum's market structure according to AMBCrypto analysis. The tokens had not entered exchanges at press time, meaning circulating sell-side pressure had not increased yet. Exchange Netflow turned negative and dropped to -11.9k, reflecting rising outflows from trading platforms. This negative exchange netflow usually indicates that buyers moved assets off exchanges and into private wallets, suggesting some market participants still accumulated ETH despite recent weakness.
Ethereum's broader structure remained fragile despite rising accumulation patterns, as reported by AMBCrypto. The Directional Movement Index showed the ADX near 25 while the +DI stayed below 20, reflecting weak trend strength and limited bullish momentum. ETH dropped below the EMA and MA Crossover levels, reinforcing the market's weak structure. The Coinbase Premium Index stayed negative for more than two weeks, printing positive only once during that stretch, with institutional sentiment remaining a significant pressure point for ETH.
If weakness persists, Ethereum could face further downside pressure according to AMBCrypto analysis. The cryptocurrency may lose the $2.2k support level and slide toward $2,175. For sentiment to improve, bulls would likely need a daily close above the EMA and MA Crossover near $2,320. Historically, ETH has struggled whenever U.S. institutional investors turned bearish, and under current conditions, ETH may remain vulnerable to additional downside pressure.
