Ethereum Price Risks Falling as BitMine & ETH Whale Activity Adds Pressure

Key Insights

• Ethereum Price Risks falling to $2,000 as Bitmine pauses ETH buying and ETH whale activity adds pressure.
• ETH price must hold the $2,150 support to avoid a further fall.
• An Ethereum whale opened a $100M ETH short on Hyperliquid.

Ethereum price is again testing a fragile zone after ETH slipped near $2,117 while Bitcoin recovered above $77,400. The move has drawn attention because leveraged traders, Ethereum ETF investors, and large holders are pointing in the same direction.

A tracked whale opened a $100 million short position on Hyperliquid, while analysts warned that ETH must reclaim $2,150 to reduce the risk of a deeper move toward $2,000.

The setup leaves the ETH price stuck between a possible short squeeze and renewed sell-side pressure. Simultaneously, Bitmine has also halted its bet on Ethereum, which has further fueled discussions among traders.

Ethereum Price Holds Near Key $2,150 Resistance Zone

Ethereum price remains under pressure because buyers have failed to turn $2,150 into support. That level now matters because liquidation data and trader positioning show heavy leverage around the same area.

A clean move above it could force short covering and shift momentum toward $2,300. However, weakness below $2,100 would give sellers more control.

Traders are now watching the $2,000 zone as the next major support area. The current split is clear. Bitcoin has recovered faster from the recent market decline, while Ethereum continues to lag.

That gap has increased concern that capital is still favoring BTC over high-beta altcoin exposure.

Whale Short Adds Pressure as Ethereum Price Weakens

The latest whale position has added another layer to the market debate. A wallet identified by on-chain trackers opened a leveraged ETH short worth about $100 million on Hyperliquid. Reports placed the position near 23x leverage, with liquidation close to $2,149.84.

Ethereum Whale Activity | Source: Hypurrscan.io

That makes the trade risky for both sides. If Ethereum price rises above the liquidation zone, the whale could face a forced exit that boosts short-term buying pressure.

On the other hand, if ETH rejects the same level, the trade may encourage more bearish positioning from momentum traders.

Whale flows are also adding pressure. Onchain Lens data shows an address beginning with 0xeb17 deposited 5,637 ETH, worth about $11.9 million, to OKX. Large exchange deposits do not always mean immediate selling, but traders often treat them as a warning sign.

Spot Ethereum ETFs have also lost momentum. Recent flow reports showed another outflow streak, with BlackRock and Fidelity products among the funds seeing withdrawals.

That weakens one of the key demand channels that supported Ethereum during stronger market phases.

BitMine Ethereum Exposure Raises Wider Treasury Risk

Bitmine said last week that its ETH holdings reached 5.28 million tokens, equal to more than 4.37% of the total supply. The company also said total crypto and cash holdings stood at $12.6 billion.

BitMine Ethereum Holdings | Source: DropStab.com

That concentration makes BMNR highly sensitive to every Ethereum price move. Recent estimates suggest BitMine is facing about $7.8 billion in unrealized Ethereum losses as ETH trades far below its 2025 peak.

The pressure could deepen if ETH breaks toward $1,600. Still, BitMine has not abandoned its long-term Ethereum plan.

The company has targeted roughly 5% of the ETH supply and has built its strategy around accumulation, staking, and future yield. Supporters argue that staking revenue could later shift the story from dilution to cash flow.

For now, the market remains focused on price. The price of Ethereum must break above $2,150 to put an end to bearish sentiments.

The post Ethereum Price Risks Falling as BitMine & ETH Whale Activity Adds Pressure appeared first on The Coin Republic.