Ethereum: Can $33 mln in whale buys help clear ETH’s recent losses?

Amid Trump’s tariff speak and the current risk to European markets, the crypto market crashed onerous on the nineteenth of January, 2026. The crypto market cap fell from $3.23 billion to $3.13 billion, marking a $100 billion drop. 

Amid this broader market crash, Ethereum [ETH]was hit onerous, erasing current good points. Ethereum dropped to a low of $3,177 earlier than barely rebounding. 

At press time, ETH traded at $3,192, down 3.58% on the each day charts, reflecting quick bearish strain. 

Market crash triggers $109 million in liquidations

After ETH dropped, breaching $3.2K, Futures positions, particularly longs, noticed large liquidations. The liquidation heatmap confirmed that ETH was overleveraged throughout the $3350-$3450 value vary. 

Supply: CoinGlass

Nonetheless, the value crashed from a excessive of $3368 to $3117, triggering an enormous liquidation pool under $3200. As soon as the value tapped it, longs have been liquidated, triggering a cascade of liquidations that drove market sell-offs. 

In keeping with CoinGlass information, whole liquidation jumped to a month-to-month excessive of $109 million. Amongst these forcibly liquidated positions, longs accounted for $101 million. 

Supply: CoinGlass

Typically when such large longs are liquidated, draw back strain accelerates, a precursor to decrease costs. 

Ethereum whale buys the dip

Apparently, after the market dipped, an Ethereum whale took the chance to build up ETH at a reduction. In keeping with the Onchain Lens, a whale purchased 10,057 ETH for $33.68 million from Binance.

After the acquisition, the whale equipped it to Aave V3 and borrowed $45 million in USDT to purchase 13,461 stETH. In one other pockets, the whale withdrew and spent $129 million USDT to purchase 38,780 stETH.

Supply: Onchain Lens

With such a transfer, the whale signaled confidence, because the market most well-liked to earn yield amid a weakened market construction. 

With ETH locked in DeFi, the liquid provide is successfully diminished, thereby disrupting value stability throughout a retrace.

Coupled with that, trade actions echoed this buy-the-dip sentiment. In keeping with CryptoQuant information, outflows surged to 517,471 ETH between the 18th and the nineteenth of January.

Supply: CryptoQuant

Because of this, ETH’s Trade Netflow prolonged its bullish construction, holding inside a unfavorable zone for eight consecutive days. Normally, a unfavorable netflow suggests greater outflows, a transparent signal of aggressive spot accumulation.

Along with whale accumulation, such a market setup offers hope for a possible restoration from the present pullback.

Is ETH in danger, or is it only a mere pullback?

Ethereum retraced, triggered by macroeconomic uncertainty and never structural weak point. In reality, demand stays comparatively excessive, as noticed above, from each whales and retail in equal measure.

Although the altcoin noticed a large bounce in bearish strain. As such, the Ethereum SMI Ergodic Indicator made a bearish crossover and fell to 0.18.

Supply: TradingView

On the identical time, ETH dropped under long-term shifting averages, 100 and 200 EMAs, signaling intense draw back strain.

If exterior points proceed to have an effect on investor sentiment, ETH may drop to $3,166 and doubtlessly breach the $3k assist degree.

Conversely, if the demand manages to soak up the exterior strain, ETH will clear these losses and reclaim $3.3k.

Last Ideas

• An Ethereum whale purchased the dip, buying 10,057 ETH for $33.68 million.
• ETH dropped 3.58%, triggering $109 million in whole liquidations.