The post Ethereum Drops 6% as Whales Rush to Cash Out, What’s Ahead? appeared on BitcoinEthereumNews.com.

Key Notes Ethereum (ETH) slid nearly 6% to $4,260 as whales and traders booked profits near $4,700. Whale 0x89Da closed a $93.5M ETH long at a loss, then re-entered with a fresh $65.6M position. The NFT market lost $1.2B in a week as ETH’s dip dragged prices lower, with key support at $4,200. Ethereum ETH $4 304 24h volatility: 5.3% Market cap: $517.83 B Vol. 24h: $45.50 B slumped nearly 6% on Thursday, trading around $4,260 at press time as major whales and traders rushed to book profits after an aggressive rally that had briefly pushed prices toward $4,700. The sell-off sparked volatility across the broader market, with Ethereum-based NFTs also taking a sharp hit. Whales Exit, Then Re-Enter Blockchain tracker Lookonchain flagged a string of whale moves that indicated uncertainty among traders. Whale wallet 0x89Da closed a 21,683 ETH ($93.5 million) long position at a $6.6 million loss, withdrawing 9.6M USDC from Hyperliquid HYPE $43.29 24h volatility: 7.8% Market cap: $14.44 B Vol. 24h: $290.25 M . But he quickly jumped back in, opening another long worth 15,353 ETH ($65.6 million). Back at the tables already—gamblers never quit. Whale 0x89Da is back with 9.6M $USDC and opened a long position of 15,353 $ETH($65.6M) again.https://t.co/pJkXaSdZif pic.twitter.com/SIlrhs7UIH — Lookonchain (@lookonchain) August 18, 2025 At the same time, another trader, starting with just $125K four months ago, compounded his gains to build a staggering 66,749 ETH ($303 million) position, peaking at $43 million in account equity. He later closed out, walking away with $6.86M in profits, a remarkable 55x return, even if far from the peak. This legendary trader has closed all 66,749 $ETH($303M) longs, locking in a profit of $6.86M(55x)! Starting with only $125K, his total account equity peaked at over $43M(a 344x return), but now stands at $6.99M(a 55x return)…

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Filed under: News - @ August 18, 2025 2:25 pm