In a significant development for Ethereum traders, a major whale transaction has caught the attention of the crypto market. According to data shared by Lookonchain on June 10, 2025, a whale who purchased 30,000 ETH valued at $75.39 million over-the-counter (OTC) two weeks ago has now sold the same amount of 30,000 ETH for $82.76 million OTC, just 20 minutes before the report was posted at approximately 10:30 AM UTC. This transaction resulted in a profit of $7.37 million for the whale, capitalizing on the recent price increase in Ethereum. The timing of this sale aligns with Ethereum's price hovering around $2,758 per ETH as of 10:00 AM UTC on June 10, 2025, reflecting a notable uptick from its price two weeks prior when the whale initially acquired the tokens at approximately $2,513 per ETH. This whale activity signals potential profit-taking at a key resistance level, raising questions about short-term price momentum for ETH. While OTC trades do not directly impact exchange order books, they often reflect sentiment among large players and can influence retail trader behavior. Additionally, this event coincides with broader market dynamics, including fluctuations in the stock market, where tech-heavy indices like the Nasdaq Composite have shown a 1.2% gain week-to-date as of June 9, 2025, potentially driving risk-on sentiment in crypto markets.

From a trading perspective, this whale's sale of 30,000 ETH could indicate a belief that Ethereum's price may face resistance or consolidation after its recent rally. The profit-taking move comes at a time when ETH/BTC pair trading on Binance showed a 0.8% increase in the last 24 hours as of 11:00 AM UTC on June 10, 2025, with trading volume spiking by 15% to $320 million in the same timeframe. This suggests that while some large holders are exiting positions, others are still accumulating or trading ETH against Bitcoin. For traders, this creates a mixed signal: potential selling pressure from whale activity versus sustained buying interest in major trading pairs. Moreover, the correlation between crypto and stock markets remains relevant here. As tech stocks rally, institutional money flow into risk assets like Ethereum often increases, a trend supported by a reported $56 million inflow into Ethereum ETFs over the past week as of June 8, 2025, according to CoinShares data. Traders should watch for whether this whale sale triggers similar profit-taking among other large holders, potentially impacting ETH's ability to break past the $2,800 resistance level.

Diving into technical indicators, Ethereum's price on June 10, 2025, at 11:30 AM UTC shows a relative strength index (RSI) of 62 on the daily chart, indicating that ETH is nearing overbought territory but not yet at a critical level. The 50-day moving average stands at $2,620, with ETH trading well above this support as of the latest data. On-chain metrics further reveal a 12% increase in Ethereum's daily active addresses, reaching 450,000 as of June 9, 2025, suggesting robust network usage that could support price stability despite the whale sale. Trading volume across major exchanges like Binance and Coinbase for ETH/USDT and ETH/USD pairs reached $1.8 billion in the last 24 hours as of 11:00 AM UTC, a 10% uptick compared to the previous day, reflecting heightened market interest. In terms of stock-crypto correlation, the S&P 500's 0.9% gain over the past week as of June 9, 2025, mirrors Ethereum's upward trajectory, reinforcing the narrative of risk appetite spilling over into digital assets. Institutional involvement is also evident, as Grayscale's Ethereum Trust saw a 3% increase in assets under management to $9.2 billion as of June 7, 2025, signaling sustained interest from traditional finance players despite OTC profit-taking by whales. Traders should monitor whether stock market momentum continues to bolster crypto valuations or if profit-taking in ETH signals a broader shift in sentiment.

For those looking to capitalize on these movements, key levels to watch include the $2,800 resistance and $2,650 support for ETH as of June 10, 2025. A break above $2,800 could confirm bullish momentum, while a drop below $2,650 might signal a deeper correction, especially if influenced by broader stock market volatility. The interplay between institutional flows in both crypto ETFs and tech stocks will be critical in determining Ethereum's next move. As always, risk management remains paramount in such a dynamic market environment.

FAQ:
What does the recent Ethereum whale sale mean for traders?
The sale of 30,000 ETH for $82.76 million on June 10, 2025, at approximately 10:10 AM UTC, as reported by Lookonchain, suggests potential profit-taking by large holders. While this OTC transaction doesn't directly affect exchange prices, it could influence market sentiment and lead to increased selling pressure if other whales follow suit.

How are stock market movements impacting Ethereum's price?
Recent gains in indices like the Nasdaq Composite (1.2% week-to-date as of June 9, 2025) and S&P 500 (0.9% over the past week) correlate with Ethereum's price increase to $2,758 as of June 10, 2025. This reflects a broader risk-on sentiment, often driving institutional money into crypto assets like ETH, as evidenced by $56 million in ETF inflows last week.