Key takeaways
What’s going on with Ethereum sentiment right now?
Ethereum’s weighted sentiment has fallen to its weakest level in nine months.
Why is the $35.7 million ETH transfer important?
A new wallet received 9,272 ETH from Galaxy Digital, a rare big move during the bearish sentiment.
Ethereum [ETH] Confidence is at its weakest in nine months, but a big transfer has dispelled pessimism.
A new wallet just received $35.7 million in ETH, and big names are suspected to be on the receiving end. At a time when traders are taking a step back and confidence is waning, a move of this magnitude stands out.
Sentiment is at its weakest since February
Ethereum’s weighted sentiment has fallen to its lowest level in nine months as the chart shows a clear pullback into deeply negative territory.
Source: Sentiment
The indicator has been trending below neutral for weeks, with fading confidence and declining buyer engagement.
When this metric remains negative for longer periods, traders are hesitant to open new long positions, making price recovery harder to sustain.
If this current pessimism persists, support zones could come under pressure, and even small sell-offs could trigger a decline. In the short term, ETH needs a change in tone before the bulls can regain significant control.
A rare great purchase in difficult times
Despite this, the behavior of the whales It hasn’t completely disappeared.
Source: Onchain/X Lens
The data shows that a new wallet received 9,272 ETH (around $35.7 million) from Galaxy Digital. Early talks link it to Bitmine or Sharplink, although this is not yet officially confirmed.
Source: Sentiment
What stands out is the moment. As ETH price returned to the $3.8K zone and most traders became cautious, whale-sized transfers above $1 million still skyrocketed.
The uneven psychology at this time is obvious. Retail is afraid, but the big selective players are still active.
Short-term trend still lacks strength
Ethereum The daily chart shows the price holding just below the $3,900 zone, but traders seem cautious.
The volume has reduced, the RSI was near 40 and the MACD line was still below the signal line at the time of this publication. This means that momentum had not yet turned in favor of the bulls.
Source: TradingView
The candles of the last few days also showed indecision from traders. For now, ETH has not shown a clear reversal pattern or a strong demand rebound.
Until momentum improves, bullish attempts may remain limited and sellers could remain in control if the next drop in volume turns into weakness.
