Ethereum Stabilizes Near $2,692 Following $112 Million Whale Liquidation and Sharp Pullback

Ethereum is stabilizing around $2,692 after falling from $2,788 to an intraday low of $2,635 following substantial whale distribution and over $96 million in long liquidations. The pullback was accelerated when a major whale transferred roughly 42,000 ETH worth approximately $112 million to Galaxy Digital to liquidate holdings, realizing an estimated $21.12 million profit at an average price of $2,664. The investor had accumulated up to 52,000 ETH over the prior two months at an average entry of $2,161, retaining roughly 10,000 ETH after the sale as Ethereum exchange netflows turned positive to 10.6k ETH.