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<p><strong>Ethereum</strong><a href="https://yellow.com/asset/eth" rel="noopener noreferrer nofollow">(ETH)</a> carved a higher low near $1,655 as a venture-linked whale scooped up $42.6 million worth, holding firm while <strong>Bitcoin</strong><a href="https://yellow.com/asset/btc" rel="noopener noreferrer nofollow">(BTC)</a><a href="https://yellow.com/news/bitcoin-lowest-level-october-2024-etfs-bleed" rel="noopener noreferrer nofollow">sank to fresh lows</a>.</p>
<h2 id="key-points">Key Points:</h2>
<blockquote>
 <ul>
  <li>Ethereum defended a higher low near $1,655 while Bitcoin broke to a fresh low.</li>
  <li>The largest non-exchange wallets shifted from selling to buying during the late-June drop.</li>
  <li>Stablecoin liquidity stayed near $156 billion, leaving traders with dry powder on the chain.</li>
 </ul>
</blockquote>
<h2 id="ethereum-splits-from-bitcoin-s-slide">Ethereum Splits From Bitcoin's Slide</h2>
<p>Ethereum <a href="https://fortune.com/article/price-of-ethereum-06-24-2026/" rel="noopener noreferrer nofollow">slipped</a> to its weakest level in weeks, falling harder than the broader market through a punishing month. Over the period the token shed about 21%, a touch worse than the roughly 20% logged by Bitcoin. What broke the pattern was the timing.</p>
<p>When the market flushed lower on Jun. 24, Bitcoin <a href="https://investingnews.com/cryptocurrency-market-recap/" rel="noopener noreferrer nofollow">slid</a> below $63,000 to its lowest in about two weeks, as a cascade of liquidations <a href="https://crypto-economy.com/big-whales-accumulate-bitcoin-as-market-faces-bearish-pressure/" rel="noopener noreferrer nofollow">triggered</a> roughly $530 million in forced selling. Ethereum declined to follow, carving a higher low and defending the floor it had set earlier in the month, the first real crack in a bearish story that had run since the spring.</p>
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<h2 id="whales-absorb-the-selling">Whales Absorb The Selling</h2>
<p>Large wallets pulling coins off exchanges during a rout is the kind of move analysts read as conviction, not capitulation. On-chain trackers <a href="https://moneycheck.com/ethereum-eth-price-bitmex-founder-dumps-6000-eth-while-major-whales-accumulate/" rel="noopener noreferrer nofollow">flagged</a> exactly that as ETH fell. One address tied to a venture firm <a href="https://coinpedia.org/price-analysis/ethereum-price-prediction-can-whale-buying-offset-etf-outflows/" rel="noopener noreferrer nofollow">withdrew</a> 25,560 ETH, worth about $42.6 million, on Jun. 24, draining supply from order books and feeding talk that smart money was building quietly.</p>
<p>The bid landed as the selling lost steam. Volume behind the slide peaked early in the month, then thinned even as prices kept sinking, and long-term holders kept <a href="https://www.investing.com/analysis/ethereums-60-drawdown-shows-why-it-is-lagging-bitcoin-in-2026-200682271" rel="noopener noreferrer nofollow">accumulating</a> through the drawdown. Spot Ethereum funds still bled, with roughly $82 million in net outflows underscoring how split the market had become.</p>
<p>Stablecoins parked on the network <a href="https://blockchainmagazine.net/ethereum-dex-volume-plummets-53-over-30-days-as-usdt-supply-declines/" rel="noopener noreferrer nofollow">stayed</a> near $156 billion, the largest pool of dollar-pegged tokens on any chain, leaving traders with dry powder rather than fleeing the chain as the price fell. The quiet absorption suggested patient buyers were treating the collapse as a discount, not an exit.</p>
<h2 id="ethereum-price-levels-hold">Ethereum Price Levels Hold</h2>
<p>ETH now trades near $1,655, with the decisive line at $1,551, the higher low printed on Jun. 24. A daily close beneath it would snap the higher-low structure and reopen the early June floor near $1,505. To take back control, buyers must reclaim $1,683, then press toward $1,724 and eventually $1,765.</p>
<p>The standoff caps a brutal year for the second-largest token, now down about 60% from its record near $4,950 set in August 2025 and the worst performer among the majors. It <a href="https://www.cryptopolitan.com/ethereum-price-prediction/" rel="noopener noreferrer nofollow">tumbled</a> from May's highs above $2,300 toward an early June capitulation <a href="https://yellow.com/news/ethereum-price-struggles-below-dollar1620-as-recovery-loses-momentum" rel="noopener noreferrer nofollow">below $1,700</a>, then churned in that narrow band for weeks as rallies stalled near resistance and fund demand stayed choppy.</p>
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Can Ethereum Hold $1,655 After Whales Step In?

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