Ethereum price fell for the second day in a row as cryptocurrency market sentiment weakened and Arthur Hayes continued selling.
summary
- The price of Ethereum has entered a bear market over the past few months.
- Arthur Hayes continued his pitch today.
- Separately, a major whale recently purchased $1.67 billion worth of tokens.
The Ethereum (ETH) token has fallen to a low of $2,900, well below its year-to-date high of $4,960. This decline is consistent with overall industry performance.
ETH tokens fell as BitMex founder Arthur Hayes continued to sell. He moved 682 tokens worth almost $2 million today.
He sold more than $5 million worth of ETH tokens this month, according to Arkham data. He subsequently increased his stakes in Pendle, Ethena, and Ether Phi. Most importantly, he still owns over $22 million worth of Ethereum tokens.
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Still, some investors are hoarding the coin in hopes of a quick recovery. Today, one whale purchased $136.49 million worth of tokens, bringing the total purchases since November 4th to $1.67 billion.
Today, a whale purchased $136,493,000 in $ETH.
Since November 4th, this whale has purchased $1.67 billion in Ethereum. pic.twitter.com/42Rh1CjaPa
— Ted (@TedPillows) December 24, 2025
Tom Lee’s Bitmine has also been on a buying spree in recent months. The company purchased 436,361 tokens in the past 30 days, representing 3.6% of the market capitalization. He owns 5% of Ethereum and hopes to generate hundreds of millions of dollars annually in staking revenue.
In his statement, Lee emphasized Ethereum’s role in the cryptocurrency industry, making it the largest chain. It has gained overwhelming market share in industries such as decentralized finance, real-world asset tokenization, and stablecoins.
Ethereum price technical analysis
ETH price chart |Source: crypto.news
The daily chart shows that Ethereum price has fallen over the past few months. The stock has risen from a year-to-date high of $4,960 to currently $2,915.
The coin’s decline is supported by the 50-day moving average and the 200 moving average, which formed a bearish crossover in November. A bearish flag pattern has also formed.
Therefore, the most likely Ethereum price prediction is bearish, with an initial target of $2,622. A decline below that level could indicate further downside and reach the psychological level of $2,000.
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