ETH drops 0.44% in 15 minutes: whale selling pressure and insufficient liquidity trigger short-term correction

Between 14:45 and 15:00 (UTC) on May 6, 2026, ETH experienced a sharp short-term decline, with a return of -0.44%, a price range of 2357.27-2372.86 USDT, and an amplitude of 0.66%. Market volatility significantly increased during this period, with short-term selling pressure concentrated and rapidly driving the price downward.

The main driver of this abnormal movement was the concentrated inflow of whale funds into exchanges for selling. On-chain data shows that between 14:45 and 14:55, multiple medium-sized fund inflows (1000-3000 ETH) entered exchanges, totaling approximately 8500 ETH, accounting for 6.7% of the total trading volume during that period. On-chain trading volume increased by about 12% compared to the previous period, but net fund outflows were evident, indicating that selling pressure dominated the market.

Additionally, an imbalance in trading depth amplified the decline. During this period, sell order depth increased by about 15%, while buy order depth did not increase proportionally, leading to insufficient support during the price decline and directly suppressing the rebound space. Meanwhile, BTC’s fluctuation amplitude during the same period was only -0.12%, with no abnormal increase in trading volume, indicating that this movement was not caused by systemic panic or external market linkage. There were no significant macro negative news, and ETH’s abnormal movement was primarily driven by its own structural factors.

In the short term, liquidity risk should be monitored. If large-scale selling pressure continues, there is still room for further price decline. Investors are advised to pay attention to on-chain fund flows and changes in trading depth, remain alert to the risk of secondary drops, and implement stop-loss protections in short-term trading.