According to Lookonchain, two wallets, likely tied to the same whale, sold 3,690 ETH worth about 15.6 million dollars that they had purchased the day before amid the latest price drop, based on on-chain transaction traces. Source: Lookonchain on X, Sep 4, 2025. The addresses realized a loss of approximately 944,000 dollars on the quick round-trip trades, signaling reactive selling captured via wallet-level data. Source: Lookonchain on X, Sep 4, 2025.

According to Lookonchain, the entity identified as Trend Research (@Trend_Research_) has continued its significant selling of Ethereum (ETH), recently offloading another 21,000 ETH valued at approximately $67 million. This latest transaction brings their total sales over the past 24 hours to 69,946 ETH, equivalent to $218.3 million, as cited in the source. Despite this heavy selling pressure, the wallet still retains a substantial holding of 115,187 ETH, worth around $376.35 million. For traders, this large-scale distribution from a single entity is a key on-chain indicator that could contribute to downward price pressure on ETH.

According to Alexander Blume, managing partner at Two Prime, Bitcoin (BTC) is in equilibrium as speculators sell amid geopolitical risks while long-term investors buy, countering ETF inflows. Glassnode data shows short-term holders, with coins held under a year, accounted for 83% of realized profit recently, contributing $904 million in selling pressure from wallets holding 6-12 months. Long-term holders realized $1.2 billion in profits last week, per Glassnode. Miners sold approximately 30,000 BTC over 20 days, according to IntoTheBlock. Benjamin Lilly, founder of Jarvis Labs, noted accumulation stalled as delta-neutral trades offered 15-30% APY alternatives, while Jimmy Yang, co-founder of Orbit Markets, observed holders diversifying into equities and gold. Markus Thielen of 10x Research highlighted key levels at $102,000 support and $106,000 resistance.