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Ethereum sees heavy sell-off with 623,000 ETH moved to exchanges amid price drop below $2,260

Market News
14 May 2026
Blockonomi
View Source
Bearish
pluang ai news

Ethereum's exchange reserves surged by 623,000 ETH in one week, signaling increased selling pressure as prices slipped below key support levels around $2,260. Large holders led the sell-off, while ETFs saw $130.6 million in outflows, reflecting bearish sentiment in the US market. Despite the price drop, on-chain data shows significant profit-taking by investors who bought ETH below $2,000, indicating cautious profit realization. Futures markets remain active with record open interest and positive funding rates, suggesting some traders are betting on price rebounds amid current volatility.

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