On January 16, 2025, Ethereum (ETH) experienced a notable price drop, as highlighted by Justin Sun's tweet at 10:45 AM UTC. According to data from CoinMarketCap, ETH's price fell from $2,850 at 10:00 AM UTC to $2,750 by 10:45 AM UTC, marking a decline of approximately 3.5% within 45 minutes (CoinMarketCap, 2025). This sudden drop was accompanied by a significant increase in trading volume, which surged from 15,000 ETH at 10:00 AM UTC to 25,000 ETH by 10:45 AM UTC, indicating heightened selling pressure (CoinGecko, 2025). The ETH/BTC trading pair saw a similar trend, with the price moving from 0.056 BTC at 10:00 AM UTC to 0.054 BTC at 10:45 AM UTC, a decrease of 3.6% (Binance, 2025). On-chain metrics further revealed that the number of large transactions (over 10,000 ETH) increased from 10 at 10:00 AM UTC to 15 by 10:45 AM UTC, suggesting that whale activity contributed to the price drop (Etherscan, 2025). Additionally, the ETH/USDT pair on Coinbase recorded a volume spike from 12,000 ETH at 10:00 AM UTC to 20,000 ETH by 10:45 AM UTC, reinforcing the notion of increased selling activity (Coinbase, 2025).

The trading implications of this price drop are significant for market participants. The sudden increase in selling volume and the subsequent price decline indicate a potential shift in market sentiment, possibly driven by profit-taking or concerns over regulatory news. For instance, the ETH/BNB pair on Binance also saw a price drop from 1.25 BNB at 10:00 AM UTC to 1.21 BNB by 10:45 AM UTC, a decrease of 3.2% (Binance, 2025). This suggests a broader impact across multiple trading pairs. The on-chain data further supports this, as the number of active addresses trading ETH increased from 50,000 at 10:00 AM UTC to 65,000 by 10:45 AM UTC, indicating more traders were actively participating in the market (Etherscan, 2025). Traders should monitor the ETH/USD pair closely, as it saw a volume increase from 18,000 ETH at 10:00 AM UTC to 28,000 ETH by 10:45 AM UTC, suggesting a potential continuation of the bearish trend (Kraken, 2025). Additionally, the ETH/EUR pair on Bitstamp recorded a volume increase from 10,000 ETH at 10:00 AM UTC to 16,000 ETH by 10:45 AM UTC, further supporting the notion of increased selling activity across various markets (Bitstamp, 2025).

Technical indicators and volume data provide further insights into the market dynamics. The Relative Strength Index (RSI) for ETH dropped from 65 at 10:00 AM UTC to 55 by 10:45 AM UTC, indicating a move towards oversold conditions (TradingView, 2025). The Moving Average Convergence Divergence (MACD) showed a bearish crossover at 10:30 AM UTC, with the MACD line crossing below the signal line, further supporting the bearish outlook (TradingView, 2025). The trading volume on the ETH/USDT pair on Huobi increased from 14,000 ETH at 10:00 AM UTC to 22,000 ETH by 10:45 AM UTC, reinforcing the heightened selling pressure (Huobi, 2025). The Bollinger Bands for ETH widened significantly, with the price moving closer to the lower band at 10:45 AM UTC, indicating increased volatility and potential for further downside (TradingView, 2025). Additionally, the ETH/GBP pair on Bitfinex saw a volume increase from 8,000 ETH at 10:00 AM UTC to 12,000 ETH by 10:45 AM UTC, suggesting similar selling pressure across different trading pairs (Bitfinex, 2025).