Ether closed below $3,000 on Tuesday as the price fell 7.83% to $2,938, marking its largest one-day drop since November 4, 2025, while on-chain data showed large holders bought into the decline and technicals signaled rising downside risk. The move occurred across exchanges and staking treasuries as institutions increased holdings during the dip.
According to on-chain reports, Trend Research borrowed $70 million in USDT to acquire 24,555 ETH, about $75.5 million, raising its holdings to roughly 651,310 ETH valued near $1.9 billion. The break also pushed price below the four-month point of control near $3,100, as seen on the one-day chart.
An OTC whale purchased 20,000 ETH, about $58.8 million, via FalconX and Wintermute. Institutional buying continued with BitMine adding 92,511 ETH in January, near $268 million, and stating plans to stake 4.2 million ETH with estimated annual rewards of $367–$393 million plus $35–$40 million from cash operations (stated).
At the same time, BlackRock moved 30,828 ETH, about $91 million, to Coinbase Prime, raising sell-side volatility concerns (reported). Roughly $287 million in leveraged positions were liquidated in 24 hours, with $257 million from longs, and data from Hyblock shows the whale versus retail delta flipped to -6,480 while 76% of retail traders remain long.
