Ethereum Reclaims $2,000 but Whale Activity Raises Questions

Ethereum has reclaimed the $2,000 level and trades around $2,087, but the rally has lacked sustained upside as price remains under pressure and key holder groups show indecision. Large addresses holding between 100,000 and 1 million ETH sold about 1.3 million ETH between February 9 and February 12, roughly $2.7 billion in value, then repurchased about 1.25 million ETH within the next 48 hours, representing nearly $2.6 billion.

That rapid sell‑then‑buy activity injects liquidity without a clear directional bias, contributing to range‑bound trading. Long-term holders had been accumulating since late December 2025, but at the beginning of February they shifted toward modest distribution.

The selling has been limited, yet it signals growing uncertainty; mixed signals from whales and long‑term holders constrain bullish momentum and make it harder for ETH to overcome major resistance levels. With consolidation the most probable near term path, Ethereum may continue to hover around $2,000 while defending $1,902 support.

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