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Ethereum whales withdraw $29M amid bearish pressure, testing $2,200 support for potential rebound.

Market News
31 Oct 2026, 18:00 WIB
AMBCrypto
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Neutral
Ethereum whales withdraw $29M amid bearish pressure, testing $2,200 support for potential rebound.

Ethereum whales have withdrawn $29.09 million worth of ETH from exchanges, signaling accumulation despite the market's weakness. However, bearish sentiment remains strong as Ethereum trades below $2,300 and approaches a critical $2,200 support level, with technical indicators showing continued selling pressure. The derivatives market also reflects growing bearish bets, suggesting traders expect further declines. For a meaningful recovery, buyers need to hold the $2,200 support and push prices back above $2,300.

Ethereum trades at Rp40.707.915 on Pluang as of Oct 31, 2026 22:21 WIB, down 0.23% in the last day. The market shows more selling activity with 57% of orders as sell and a typical hold time of 108 days. The platform's market cap for ETH stands at Rp4.982,07 trillion, reflecting steady interest despite recent bearish signals.

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