Ethereum Foundation Drops 1,000 ETH: Is the Price Crash Finally Here?

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Well, here we are again. Ethereum Foundation, with all the subtlety of a wrecking ball at a ceramics class, decided to send a casual 1,000 ETH to Kraken on April 22. Presumably to sell it. Because, you know, why not? This could lead to a drop in price, as it has so many times before. And, of course, the community has been so understanding about these sales, given how they tend to add more weight to the already sagging price. The recent transfer of a cool $1.58 million worth of ETH might just trigger that infamous downward spiral of despair.

A wallet linked to the Ethereum Foundation deposited 1,000 $ETH ($1.58M) to #Kraken an hour ago.

This wallet received 84,513 $ETH ($134M now) from the Ethereum Foundation 10 years ago, when the price of $ETH was ~$1.2.

— Lookonchain (@lookonchain) April 22, 2025

According to the ever-watchful CryptoRank, Ethereum Foundation sold 4,466 ETH for a tidy $12.61M in 2024, at an average price of $2,823. Of course, this always seemed to coincide with some rather dramatic ETH price drops. Funny how that works, isn’t it?

CoinGecko, always ready to chime in with their two cents, notes that “EF’s sales can trigger immediate price reactions.” Wow, no kidding! They go on to say that “broader market forces” might offset these price jolts in the long run. But hey, who cares about the long run when the immediate future is looking this shaky?

Ethereum Price Today: Why is ETH Up 0.25% Today and Trades at $1,582?

As of April 22, Ethereum has managed a 0.25% gain, clawing its way back from a 2.76% retracement. At $1,582, ETH is barely hanging on. But don’t get too comfortable, because the whole house of cards could collapse if Bitcoin (BTC) sneezes. If there’s any funny business with Bitcoin’s leverage-driven pump, or Ethereum Foundation continues with their fire sale, ETH might drop again. Hold on to your hats, folks!

Ethereum Technical Analysis: What’s Next for ETH Price?

Let’s take a look at the charts, shall we? A series of lower highs and lower lows have created a downtrend for Ethereum. But don’t be too quick to grab the tissues—there might be a volatile surge to flip this downward spiral. Why? Because Ethereum’s been stuck in a sideways slump for the last 10 days. Talk about a thrilling ride! This tight range might just be the precursor to something big. Either that, or we all get to keep watching the drama unfold at the $1,504 support level. Either way, exciting stuff.

The Ethereum Foundation’s sale could spark a sharp correction back down to that ever-so-comforting $1,504 support level. But, if things really go south, we could be revisiting the $1,200 zone. And let’s not forget that Bitcoin could throw a wrench in the whole thing by undoing its recent rally to $88K. After all, who doesn’t love a good leverage-driven pump to keep things interesting?

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2025-04-22 12:31