Vitalik Buterin sells as Ethereum price falls. And some might think he doesn’t like his channel or even his crypto at all.
On-chain data shows that the Ethereum co-founder has liquidated 10,723 ETH, worth around $21.7 million, since the beginning of February. The sales come at a sensitive time, as Ether struggles to defend the $1,825 support zone.
The timing raised eyebrows, but Buterin said past sales were intended to fund open source work; The founder’s consistent sales during a weak market naturally fuel bearish sentiment.
Key takeaways
- $21.7 million liquidated: Buterin has sold a total of 10,723 ETH since February 2, an average sale price of approximately $2,027 per token.
- Recent acceleration: The data shows that 3,765 ETH ($7.08 million) was sold in the three days leading up to February 24.
- Bear market structure: The sales coincide with a 38% drop in ETH’s value over the past 30 days, currently testing support near $1,825.
The triggering alarm for Ethereum unloading?
A founder selling almost always spooks the market, for whatever reason, and Buterin said the funds are going to open source and security-focused projects. Still, over 10,000 ETH hitting the market is creating real selling pressure.
Traders are not just reacting to the $21.7 million already sold. They look at what might happen next. The initial allocation was 16,384 ETH, which means around 6,000 ETH can still be unloaded.
The sales started on February 2 and continued throughout the month. The most aggressive selling occurred recently, with 3,765 ETH sold for $7.08 million between February 21 and 24.
The average execution price over these three weeks is $2,027. With Ethereum currently trading around $1,825, Buterin actually led the last 10% decline.
Ethereum Price Could Drop To $1,500, It’s Very Likely Now
Ethereum’s structure has clearly weakened after losing the psychological level of $2,000.
The daily chart shows a confirmed breakdown of the bear flag. The RSI is close to oversold, but the MACD has not shown a bullish crossover, so momentum still favors the sellers.
Immediate support lies around $1,800. A daily close below that opens the door to the $1,500 zone, where liquidity was previously accumulating. The 50-day EMA has also crossed below the 200-day EMA, forming a classic death cross that reinforces the downtrend.
To invalidate the bearish setup, bulls would need to reclaim $2,150 with heavy volume. In the meantime, rallies will likely face selling pressure, especially with continued founder distribution increasing supply.
Keep a close eye on the $1,780-$1,820 range. A bounce could form a double bottom. A clear breakout lower and $1,475 becomes the next logical target.
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The post Does Vitalik Buterin even like his channel? Sells Over 10,000 ETH as Ethereum Price Tests $1,800 appeared first on Cryptonews.
