{"id":567414,"date":"2026-02-04T22:30:44","date_gmt":"2026-02-04T17:00:44","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=567414"},"modified":"2026-02-04T15:33:18","modified_gmt":"2026-02-04T10:03:18","slug":"ethereum-can-2k-support-hold-amid-771m-eth-dump","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/ethereum-can-2k-support-hold-amid-771m-eth-dump\/","title":{"rendered":"Ethereum: Can $2k support hold amid $771M ETH dump?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\"> Ethereum [ETH]\u00a0has faced intense pressure since it breached $3k support one week ago. With a sustained downward spiral, Ethereum touched a low of $2.1k, then stabilized around $2.2k.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of writing, ETH traded at $ 2,266, down 1.51% on the daily chart, extending its month-long bearish trend.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With the market under intense stress, the ETH\u2019s weakened structure has pushed holders, especially Ethereum whales, to capitulate.\u00a0<\/span><\/p>\n<h2><strong>Ethereum whales deleverage to pay loans<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Amid prolonged market decline, Trend Research and Garrett Jin continued to offload <a href=\"https:\/\/ambcrypto.com\/predictions\/ethereum-price-prediction\/\" target=\"_blank\" rel=\"noopener\">ETH<\/a> to repay loans and avoid liquidation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to <a href=\"https:\/\/x.com\/lookonchain\/status\/2018857182960488605?s=20\">Lookonchain<\/a>, these two entities have deposited a total of 316,185 ETH, worth $738 million, on Binance for sale. <\/span><span style=\"font-weight: 400;\">Jin sold $82.37 million in ETH over the past day, while Trend Research sold $76.4 million in ETH.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Such selling constitutes a risk-driven market exit aimed at reducing the debt burden and improving market health, thereby decreasing risks of liquidation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the same time, the Bitcoin OG (10\/11) has also continued to sell ETH. <a href=\"https:\/\/x.com\/OnchainLens\/status\/2018834617500131498?s=20\" target=\"_blank\" rel=\"noopener\">Onchain Lens<\/a> reported that the whale deposited 15,000 ETH, valued at $33.35 million, into Binance to sell and repay the loan.<\/span><\/p>\n<p>Usually, forced deleveraging creates extra selling pressure, further accelerating the downside risk.<\/p>\n<h2><strong>Selling pressure hits a weekly high<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">With whales deleveraging, sell pressure on ETH has surged significantly. As such, Ethereum\u2019s supply on exchanges rose considerably, as evidenced by the Exchange Supply Ratio (ESR).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to CryptoQuant data, ESR reached a weekly high of 0.138, at press time, a substantial reversal from the prior trend.\u00a0<\/span><\/p>\n<figure id=\"attachment_567462\" aria-describedby=\"caption-attachment-567462\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Supply-Ratio-All-Exchanges-scaled.png\"><img decoding=\"async\" class=\"size-full wp-image-567462\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Supply-Ratio-All-Exchanges-scaled.png\" alt=\"Ethereum Exchange Supply Ratio \" width=\"2560\" height=\"1440\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Supply-Ratio-All-Exchanges-scaled.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Supply-Ratio-All-Exchanges-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Supply-Ratio-All-Exchanges-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Supply-Ratio-All-Exchanges-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Supply-Ratio-All-Exchanges-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Supply-Ratio-All-Exchanges-2048x1152.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Supply-Ratio-All-Exchanges-1200x675.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-567462\" class=\"wp-caption-text\">Source: CryptoQuant<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">When ESR rises, it suggests that most market participants have increased supply-side activity. Such market behavior reduces scarcity, thus further weakening the market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, Exchange Inflow rose to a two-month high of 2.3 million on the 3rd of February before falling to 210k.\u00a0<\/span><\/p>\n<figure id=\"attachment_567493\" aria-describedby=\"caption-attachment-567493\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Inflow-Total-All-Exchanges-scaled.png\"><img decoding=\"async\" class=\"wp-image-567493 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Inflow-Total-All-Exchanges-scaled.png\" alt=\"Ethereum exchange inflow\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Inflow-Total-All-Exchanges-scaled.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Inflow-Total-All-Exchanges-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Inflow-Total-All-Exchanges-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Inflow-Total-All-Exchanges-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Inflow-Total-All-Exchanges-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Inflow-Total-All-Exchanges-2048x1152.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Ethereum-Exchange-Inflow-Total-All-Exchanges-1200x675.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-567493\" class=\"wp-caption-text\">Source: CryptoQuant<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Such massive inflows validated the early observation of increased sell-side pressure, often a prelude to lower prices as recently observed.\u00a0<\/span><\/p>\n<h2><strong>Is ETH at risk of slipping below $2k?<\/strong><\/h2>\n<p>Ethereum has faced intense selling pressure across all market participants, mainly from whales forced exit. These prevailing conditions have pushed ETH to a significantly weakened position.<\/p>\n<p>As a result, the altcoin fell below its Parabolic SAR and both medium- and long-term Fibonacci Bollinger Bands (FBB), as of writing, indicating strong downward momentum.<\/p>\n<figure id=\"attachment_567460\" aria-describedby=\"caption-attachment-567460\" style=\"width: 1376px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/ETH-SAR.jpeg\"><img decoding=\"async\" class=\"size-full wp-image-567460\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/ETH-SAR.jpeg\" alt=\"Ethereum Parabolic SAR and FBB\" width=\"1376\" height=\"708\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/ETH-SAR.jpeg 1376w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/ETH-SAR-300x154.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/ETH-SAR-1024x527.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/ETH-SAR-768x395.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/ETH-SAR-1200x617.jpeg 1200w\" sizes=\"(max-width: 1376px) 100vw, 1376px\" \/><\/a><figcaption id=\"caption-attachment-567460\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p>Typically, when ETH holdings are below these two levels, it signals the continuation of the dominant trend. Thus, if selling pressure persists, ETH could drop below $2k, with the lower boundary of the FBB at $ 1,796 acting as support.<\/p>\n<p>However, despite the price drop, Ethereum Treasury Bitmine has held its ground and continued to accumulate at lower prices.<\/p>\n<p>According to <a href=\"https:\/\/x.com\/lookonchain\/status\/2018681148621103489?s=20\" target=\"_blank\" rel=\"noopener\">Lookonchain<\/a>, Bitmine purchased 20,000 ETH, valued at approximately $46 million. With these purchases, Bitmine has positioned itself as the central pressure absorber.<\/p>\n<figure id=\"attachment_567461\" aria-describedby=\"caption-attachment-567461\" style=\"width: 1662px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/bitmine.jpg\"><img decoding=\"async\" class=\"size-full wp-image-567461\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/bitmine.jpg\" alt=\"Bitmine purchase\" width=\"1662\" height=\"304\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/bitmine.jpg 1662w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/bitmine-300x55.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/bitmine-1024x187.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/bitmine-768x140.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/bitmine-1536x281.jpg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/bitmine-1200x219.jpg 1200w\" sizes=\"(max-width: 1662px) 100vw, 1662px\" \/><\/a><figcaption id=\"caption-attachment-567461\" class=\"wp-caption-text\">Source: Lookonchain<\/figcaption><\/figure>\n<p>Therefore, if Bitimine continues to hold and add positions despite rising losses, it will provide support, preventing further declines.<\/p>\n<p>To avoid this downward spiral, ETH bulls must reclaim the Parabolic SAR at $2656, which will set the ground for a move towards $3k.<\/p>\n<hr \/>\n<h2>Final Thoughts<\/h2>\n<ul>\n<li><em>Ethereum extended its bearish streak and hovered around $2.2k.\u00a0<\/em><\/li>\n<li><em>ETH faced intense selling pressure as whale borrowers deleveraged, selling $771 million in ETH to repay loans and reduce liquidation risk.\u00a0<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum whales deleveraged selling $771.35 million worth of ETH to pay loans. <\/p>\n","protected":false},"author":94,"featured_media":567473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,32,66,3,4,20],"tags":[],"class_list":["post-567414","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-ethereum-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ethereum: Can $2k support hold amid $771M ETH dump? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Ethereum whales deleveraged selling their holdings to pay loans and reduce liquidation risk. 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