Ethereum whale groups are all in negative unrealized profit for the first time since 2019.

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Summary

On June 26, whale activity on Ethereum turned negative across all major groups, according to CryptoQuant analyst Darkfost. Whale movements in the 1k–10k ETH, 10k–100k ETH, and 100k+ ETH ranges are now in negative unrealized profit for the first time since 2019. The largest whale group also entered negative territory for the first time since the 2022 bear market. This trend has persisted for weeks, suggesting a potential test of whale confidence and a possible market bottom.

BlockBeats news, on June 26, CryptoQuant analyst Darkfost stated that all Ethereum whale groups are now in unrealized loss, including the 1k-10k ETH (-0.26), 10k-100k ETH (-0.21), and 100k+ ETH (-0.05) groups—marking the first time since 2019, as even the largest whale group remained profitable during the 2022 bear market.

Data shows that whales' unrealized profit margins have turned negative and remained so for several weeks; Darkfost believes this situation tests whale conviction and has historically signaled bottom areas.

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