Ethereum Drops 30% as Whales Buy the Dip; ETF Holders See Heavy Losses

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<a href="https://usdaed.com/eth-usd/">Ethereum</a>’s 30% Slide Puts Big Money in the Red: Here’s What They’re Doing Next

As a crypto investor, I’m watching Ethereum closely, and it’s a bit concerning to see the price drop below what many long-term holders and ETF investors originally paid for it. Basically, a large number of us are currently looking at a loss on our ETH holdings.

Recent data indicates investors are still committed for the long term, rather than pulling out quickly, meaning capital is largely staying invested even with recent declines.

Ethereum’s Decline Pushes Major Buyers Into Unrealized Loss Territory

Ethereum’s price has continued to fall in 2026, losing over 30% of its value since the beginning of the year as the overall crypto market weakens. Last week, the price of Ethereum, the second-largest cryptocurrency, dropped below $2,000. While it briefly went back above that level, the increase didn’t last, and the price has now fallen below $2,000 again.

Ethereum’s price dropped by 4.58% in the last day, according to BeInCrypto Markets data. It is currently trading at $1,971.

Things have been rough lately, and a lot of us are seeing our crypto investments currently worth less than what we paid for them. I read that BitMine, which holds a huge amount of Ethereum, was already down around $6 billion on paper last week. Now, with prices dropping further, CryptoQuant is reporting those losses have climbed to over $7 billion. It’s a tough time to hold, that’s for sure.

Recent on-chain data indicates that long-term Ethereum holders are starting to feel the pressure. Analyst CW8900 pointed out that the price of Ethereum has dropped below what many of these long-term holders originally paid for it.

Whales started buying up large amounts of cryptocurrency in June 2025. Now, the price is lower than what they originally paid for it.

As a crypto investor, I’m seeing a lot of pressure on ETF holders right now. Bloomberg’s James Seyffart pointed out that those of us invested in Ethereum ETFs are actually in a tougher spot than Bitcoin ETF investors at the moment.

Ethereum is currently trading under $2,000, significantly lower than the average price investors paid for it – around $3,500 – when considering potential ETF holdings.

According to Seyffart, the recent price drop fell over 60%, similar to the 60% drop experienced by Ethereum in April 2025.

Ethereum Drawdown Tests Investor Conviction

Even though the market has fallen sharply, investors haven’t completely lost faith. According to analyst CW8900, large investors – often called ‘whales’ – are still buying Ethereum, indicating continued confidence.

The rate at which Ethereum is being collected is increasing rapidly. The analyst believes the current price will look appealing to large Ethereum holders, often called ‘whales’.

BeInCrypto noted that Ethereum is seeing more ETH leave exchanges than enter them, a sign that people are likely holding onto their coins rather than selling. This trend often suggests growing interest in accumulating Ethereum.

Despite the recent price drop, most investors in Ethereum ETFs haven’t sold their holdings, according to Seyffart. While Ethereum ETFs initially saw around $15 billion in new investments, that number has decreased to under $12 billion.

Although these ETFs have seen a more significant recent price drop compared to Bitcoin ETFs, most investors are still keeping their holdings.

The analyst noted that while this market downturn is more significant than the recent impact of Bitcoin ETFs, many investors are still holding onto their assets, which is a positive sign overall – at least for the time being.

BitMine is showing strong confidence in Ethereum. They recently bought 40,000 ETH and, according to Lookonchain, have also staked an additional 140,400 ETH.

This increases their total staked Ethereum to 2.97 million ETH, currently worth $6.01 billion. This represents 68.7% of Bitmine’s entire Ethereum holdings, showing they plan to actively support the network for the long term instead of just quickly buying and selling.

Currently, Ethereum’s price is showing signs of strain, but large investors seem to be holding onto their coins and even buying more, suggesting a belief in its future potential.

If Bitcoin can maintain this strength and fully recover remains to be seen, and will likely hinge on overall market trends and whether Ethereum can regain important technical price points in the coming weeks.

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2026-02-11 10:22