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Ethereum price volatile after $160M transfer to exchanges amid whale selling pressure

Market News
12 Sep 2026
AMBCrypto
View Source
Neutral
Ethereum price volatile after $160M transfer to exchanges amid whale selling pressure

Ethereum experienced sharp price swings after briefly rising above $2,600 then falling near $2,400. Wintermute transferred 61,847 ETH worth $160.3 million to Binance and Coinbase, raising concerns about potential selling. However, exchange supply of Ethereum is at a multi-year low, suggesting fewer coins are immediately sellable. Despite this, whale holders are distributing ETH, maintaining selling pressure and causing price weakness. The market awaits whether buyers can absorb these sales to push prices back above $2,600 or if ETH will drop toward $2,300 amid continued whale selling.

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