Garrett Jin Deposits 78K ETH to Binance

Whale watcher Lookonchain reports that Garrett Jin, known for his #BitcoinOG1011short stance, just dumped another 78,077 ETH valued at $178M into Binance. He retains a massive 303,618 ETH stack worth $692.5M, signaling potential liquidation pressure in the Ethereum market as BTC hovers in correlated volatility. This move echoes recent Ethereum whale movements over the past six months, where large holders shifted billions amid regulatory scrutiny and crypto market analysis pointing to downside risks.

On the 4h chart, ETH trades at $2314.03 in a clear bearish structure, with price slipping below the EMA50 at $2323.42 while the EMA200 at $2267.96 acts as a firm long-term support. MACD confirms the death cross at -9.88, screaming sustained downside, and RSI at 47.69 stays neutral but teeters on weakness. Volatility squeezes inside Bollinger Bands, testing upper resistance at $2396.0—expect exhaustion here, pushing a retrace to lower support at $2253.45 before any rebound, aligning with broader ETH price prediction models forecasting sub-$2200 tests if whale selling persists.