CryptoQuant analyst Darkfost posted on X that ETH whales have entered unprofitable territory for the first time since 2019. Currently, the unrealized profit ratios for all three whale categories are negative: -0.26 for the 1,000 to 10,000 ETH range, -0.21 for the 10,000 to 100,000 ETH range, and -0.05 for the above 100,000 ETH range. Darkfost noted that historically, when the ETH market tests whale conviction, it often coincides with the formation of a bottom region; Ethereum has thus far demonstrated considerable resilience.
CryptoQuant Analyst: Three ETH Whale Groups in Loss for the First Time Since 2019
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Summary
ETH price fell below key support levels as major whale groups reported losses for the first time since 2019. According to ETH analysis by CryptoQuant’s Darkfost, three whale clusters—1,000–10,000 ETH, 10,000–100,000 ETH, and over 100,000 ETH—show unrealized profit ratios of -0.26, -0.21, and -0.05. Darkfost noted that such shifts in whale sentiment often coincide with market bottoms, and ETH price has yet to break key resistance.
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