Whales and institutions are withdrawing large amounts of Ethereum (ETH) from exchanges, raising signs of accumulation after the sharp market downturn.
Amidst the crypto recovery, the outflow of ETH from exchanges is increasing rapidly, often interpreted as a move to private wallets for longer-term holding. Simultaneously, the price is testing key technical levels, making the question of "reversal or continued decline" increasingly urgent.
- Whales and institutions withdrew 186,168 ETH (approximately $280 million) from various exchanges in just 24 hours.
- Exchange reserve data shows an additional 219,203 ETH leaving the exchange in 24 hours, reinforcing the accumulation argument.
- ETH needs to close the daily candle above $2,180 to increase the probability of a reversal; failure could pave the way for a drop to the $1,550 region.
Whales and institutions withdrew 186,168 ETH from exchanges in 24 hours.
The withdrawal of 186,168 ETH from exchanges in 24 hours is a signal often associated with accumulation behavior, where assets are transferred from exchanges to private wallets to reduce the intention to sell immediately.
According to the crypto transaction tracker Onchain Lens , whales and institutions withdrew a total of 186,168 ETH, estimated at around $280 million, within 24 hours.
These withdrawal transactions appeared on multiple exchanges, including Kraken, Binance, Gate, and several others. The dispersion across multiple trading locations usually indicates a widespread withdrawal demand, rather than just a single issue on one exchange.
In on-chain behavior, withdrawing Token from exchanges is often XEM as a sign of a decrease in the supply of tokens ready for immediate sale, as ETH leaves the exchange wallet (where it's convenient to sell) for personal/institutional wallets.
Large-scale withdrawals often spark debate: whether whales "foretold" something or were simply taking advantage of the dip as a buying opportunity. However, withdrawal data alone is not enough to definitively determine the price direction; further technical analysis and liquidation analysis are needed.
ETH reserves on exchanges have dropped sharply, reinforcing the accumulation signal.
Decreasing exchange reserves and increasing ETH outflows are two signals that often accompany accumulation, as the amount of ETH held on exchanges (easily sellable supply) tends to shrink.
Data from on-chain analytics tool CryptoQuant shows that Ethereum reserves on exchanges have decreased significantly at the time of recording.
In the last 24 hours, according to exchange data, 219,203 ETH left exchanges. This figure is often interpreted as a shift of funds to holdings outside exchanges, especially after a sharp market downturn.
It's important to note that "de-exchange" can serve multiple purposes, such as custody, transfer to Staking, or reallocation among wallets. Therefore, the accumulation signal will be more convincing when it appears simultaneously with other supporting signs, such as improved price structure and buying pressure.
ETH needs to reclaim $2,180 to increase the probability of a reversal.
ETH only truly increases the probability of a reversal when the daily candle closes above $2,180; if rejected at this point, a bearish scenario towards the next support zone around $1,550 could be triggered.
At the time of writing, ETH is up 4.5% in 24 hours and trading around $2,108. Despite the price rebound, the market remains cautious as volume has decreased 35% to $34.35 billion—a sign that money flow hasn't yet followed the rally.
On the daily chart, ETH is attempting to reclaim the crucial support zone of $2,180, a level lost on February 5, 2026, amidst a broad market downturn. However, it is not yet possible to confirm whether ETH has regained support or is simply retesting the previous breakdown zone.
If the upward momentum continues and ETH closes the daily candle above $2,180, this could signal a reversal, triggering a stronger recovery. Conversely, if the price is clearly rejected at $2,180, selling pressure could pull ETH back to the next support level near $1,550.
The ADX and MFI indicators show strong momentum and improving buying pressure.
A high ADX indicates a strong trend, while an MFI rising from the oversold region reflects returning buying pressure, although this does not automatically guarantee a sustainable reversal.
At the time of recording, the Average Directional Index (ADX) reached 49, higher than the 25 threshold—often used to confirm trend strength. A high ADX implies the market is "moving strongly," but it doesn't clearly indicate whether the trend is upward or downward; price action needs to be considered in conjunction with the data.
Meanwhile, the Money Flow Index (MFI) rose to 33.24 from 11, indicating that buying flows are accelerating after an oversold period. The MFI remains below the levels typically associated with overbought conditions, but the rebound from very lows suggests that demand has improved compared to before.
The liquidation map shows leverage zones concentrated around $2,060.4 and $2,135.4.
The dense leverage zone around $2,060.4 and $2,135.4 could increase volatility, as price touches at these levels could easily trigger chain liquidations on both sides.
From a Derivative perspective, day traders appear to be following the market trend. The liquidation map on the exchange shows overleveraged positions at $2,060.4 (below) and $2,135.4 (above).
At these levels, traders had built approximately $247.67 million in leveraged Longing positions and $189.54 million in leveraged Short positions. As prices approached the liquidation clusters, the risk of a "sweep" on both sides increased, creating sharp, short-term rallies.
Conclusion: on-chain accumulation is increasing, but confirmation of a reversal still depends on $2,180.
The ETH outflow from exchanges is a notable accumulation sign, but a reversal scenario needs to be confirmed by ETH closing the daily candle above $2,180, while a failure at this level could drag the price down to lower support.
- In 24 hours, exchange reserves decreased by a further 219,203 ETH, and withdrawals of 186,168 ETH (approximately $280 million) were recorded across various exchanges—further reinforcing the accumulation argument.
- The $2,180 mark is a key technical zone: a daily candle close above it increases the probability of a reversal; rejection could lead to a decline to the $1,550 region.
Frequently Asked Questions
Does the removal of ETH from exchanges necessarily mean whales are buying it?
It's not 100% certain. Withdrawals from exchanges are often XEM as a sign of accumulation because ETH is being transferred to private wallets, but it could also be due to custody, transfer to Staking , or wallet reallocation. Further analysis of price structure, volume, and Derivative data is needed.
Why is the $2,180 mark important for ETH?
$2,180 is a crucial support zone that ETH has previously lost. If ETH closes the daily candle above this level, the probability of a bullish reversal increases as the price could turn the resistance zone into support. If rejected, the risk of a further decline increases.
What does a 35% decrease in volume mean when prices are rising?
A price increase while volume decreases often indicates that buying pressure is not yet convincing or the market is still hesitant. This doesn't negate a rebound, but makes the upward signal less sustainable if there isn't an improvement in liquidation.
What do ADX 49 and MFI 33.24 say about the ETH trend?
The ADX of 49 indicates a strong trend (high momentum), while the MFI increased from 11 to 33.24, reflecting improved buying pressure after an oversold period. However, confirmation of a reversal still needs to be based on price behavior at technical levels such as $2,180.
