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Ethereum whale sells 20,000 ETH worth $41M amid $2,000 support test and ETF outflows

Market News
23 May 2026
Bitcoin
View Source
Bearish
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A single Ethereum wallet sold 20,000 ETH valued at $41.18 million at around $2,059 each within an hour, increasing selling pressure as ETH faces its critical $2,000 support level. This sale coincides with the tenth consecutive day of outflows from spot Ethereum ETFs, totaling $6.67 million on May 22. The $2,000 price point is crucial; a break below could trigger further selling and test investor confidence. Market uncertainty is heightened by recent Federal Reserve leadership changes and weak institutional demand, making ETH's near-term price action pivotal.

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