Ethereum Bounces Back After $4M Sell-Off: Can it Survive Another Rollercoaster?

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Ethereum, in a feat that can only be described as miraculous, managed to reclaim the $3,100 price level after a brief dip below it. The whole charade lasted just over four hours on Monday morning, and the rebound came amid a flurry of activity from a wallet that had been dormant for a decade, and some sizable liquidations by market bigwigs. Truly, who doesn’t love a good drama?

The recent chaos underlines two contrasting forces at play in the market: the old-timers reappearing from their hibernation and the so-called ‘influencers’ trimming their portfolios like they’re preparing for a New Year’s resolution. Nothing says stability like panic-selling, right?

ETH Price Action and Market Sentiment

At 9:36 PM UTC on November 16, 2025, Ethereum dipped below $3,100 for the first time since November 4, 2025. The price hit $3,066, marking a 3.4% drop in 24 hours. This tumble was in line with the overall weakness in the digital asset market and a growing narrative that ETH is the underdog in the race against Bitcoin.

One particularly disgruntled trader on X remarked, “It’s becoming increasingly difficult to envision a different outcome for $ETH. Had to ditch my long position this afternoon. No more chances for me.” Keep calm and sell your assets, indeed. 🍿

But as expected from this fickle market, Ethereum regained the $3,100 mark within hours, showcasing some good ol’ market resilience. Traders are now eyeing ETF flows like hawks-could we see another sell-off, or is there hope on the horizon? Stay tuned!

According to Coinalyze data, the Long-Short Ratio for ETH is above 3.0, signaling that traders are still very much engaged, possibly hoping for the rebound of a lifetime. But the spikes in the ratio also signal that we’re in for a ride-hold on tight, everyone.

Arthur Hayes Liquidates Crypto Holdings

BitMEX co-founder, Arthur Hayes, seems to have gotten bored of his crypto holdings and decided to sell them off in a multi-million dollar frenzy. On Sunday, he sold 520 ETH, valued at a mere $1.66 million, along with other assets-ENA, ETHFI, and a few other cryptic abbreviations we all pretend to understand. Total haul: approximately $4.1 million. Hayes must be thrilled. (And a bit richer.)

Just when you thought it was over, Hayes struck again. Another 260 ETH (worth $820,000) hit the market, accompanied by a cocktail of other altcoins, sending them to institutional desks like Flowdesk, FalconX, and Cumberland-because, clearly, institutional desks have been missing out on this rollercoaster.

As Ethereum sagged to $3,100 and Bitcoin fell to $94,000, one can’t help but wonder: Was this a defensive move from Hayes, or just a strategic cash-out before things get worse? One thing’s for sure-these moves certainly didn’t help the market stabilize.

Dormant Ethereum Wallet Reawakens After a Decade

In what can only be described as a plot twist worthy of a thriller, an Ethereum ICO wallet woke up from its 10-year slumber and transferred a cool 200 ETH-worth $626,000. This wallet, which had received 1,000 ETH during Ethereum’s genesis for just $310 (talk about a bargain!), now stands as a testament to early investors’ unwavering faith-or perhaps, their inability to recognize a good exit opportunity. 🧐

This rare event could be a sign of renewed belief in Ethereum’s long-term prospects. However, it might also signal that someone just remembered they have $600k sitting in a forgotten wallet and thought, “Why not?” After all, there’s nothing like reviving a wallet that’s been collecting dust for a decade to spice things up.

The fact that these early ICO wallets-closely watched by crypto enthusiasts-are still moving assets sends a clear message: Ethereum has come a long way, and some people might be reaping the rewards of their decade-long patience (or, let’s be honest, their decade-long forgetfulness). 🍾

Diverging Expert Opinions on Ethereum’s Future

Analysts are, as usual, divided on Ethereum’s future. Tom Lee, Chairman of BitMine, has gone full-on bullish, likening Ethereum’s future to Bitcoin’s past supercycles. Lee pointed out that Bitcoin endured a series of dramatic dips over the years and still managed to rise exponentially. His advice? Hunker down and hold onto your ETH for dear life, because profits await on the other side of the storm.

Meanwhile, analyst Ali Martinez, who clearly prefers a more cautious approach, has a different outlook. Martinez suggests that ETH could potentially drop to $1,800, citing ETF outflows, relative risk compared to Bitcoin, and the ever-present market turmoil. The contrast in opinions is as wide as a grand canyon-and nearly as exciting. 😬

$1,800 looks like a great spot to buy Ethereum $ETH!

– Ali (@ali_charts) November 16, 2025

So, what are we left with? A market in flux, where optimism and caution play tug-of-war with each other, as Ethereum teeters on the edge of its fate. Institutional investors remain cautious, but on-chain activity suggests that the old guard is still in the game. The coming weeks will be crucial-will ETH maintain its footing, or will it fall further down the rabbit hole?

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2025-11-17 06:09