ETH 15-minute short-term sharp decline of 0.54%: whale selling off combined with ETF inflow slowdown triggers selling pressure

On April 29, 2026, from 13:30 to 13:45 (UTC), ETH experienced a sharp decline of 0.54% within 15 minutes, with the price dropping from $2,307.41 USDT to $2,293.5 USDT, a volatility of 0.60%, indicating increased short-term fluctuations. The main drivers of this movement were rising exchange net inflows combined with continuous whale selling behavior.

Glassnode data shows that in the 24 hours before and after this period, ETH exchange net inflows reached 98,084.61 ETH (approximately $420,690 USD), reflecting an increased willingness among investors to realize profits, with short-term selling pressure rising. Meanwhile, since late March, large addresses (holding 100,000 to 10,000,000 ETH) have been continuously reducing their holdings, extending into April. This whale selling activity directly increased market liquidity supply.

Additionally, the weakening of ETF capital inflows is another important factor. After a weekly net inflow of $1.87 million in early April, the scale narrowed, and buying support could not effectively offset spot selling pressure. Furthermore, current prices are near the dense zones of $2,020 and $2,120–$2,170, where some holders choose to sell as prices approach break-even points, creating local resistance. After Layer 2 data costs decreased, on-chain transaction volume hit new highs, but increased on-chain activity did not translate into price support. The weakening of ETH’s deflationary effect further undermines its fundamentals.

Current volatility risks focus on the sustainability of whale selling and shifts in ETF capital flows. Future attention should be paid to the effectiveness of support around $2,290, changes in exchange net inflows, and the release of positions in key zones, with caution for further short-term corrections.