Ether Falls Below $2,000 as Whales Sell, Retail Buys

Ether fell below $2,000 on Thursday, trading as low as about $1,965 intraday. The token is down more than 40% from its 2026 peak near $3,400.

Social media activity tracked by Santiment showed a rise in ‘buy the dip’ posts after Ether lost the $2,000 support level. Santiment wrote in a post: ‘There will be an opportunity to buy Ethereum, but ideally you will want to wait for the majority to cool down their FOMO and begin to show panic.’

Data from blockchain analytics firms and market sources show larger investors reducing exposure. Harvard University’s endowment liquidated an $87 million Ether position. Bankless co‑founder David Hoffman disclosed that he had sold his personal holdings. U.S. spot Ether ETFs recorded about $470 million in net outflows over the two weeks ending May 21, according to ETF flow tallies.

Addresses holding more than 10,000 ETH have trimmed balances by over 5% so far in 2026, per Glassnode data. Tom Lee’s BitMine remains a major long‑term holder with roughly 5.21 million ETH, or about 4.31% of supply, as it works toward a 5% ownership target. DropStab.COM reports BitMine’s average purchase price near $3,484, which places the position well below current market levels and results in an estimated unrealized loss in the billions.

Technically, Ether’s decline followed a breakdown from a rising wedge pattern, a formation defined by two converging upward trend lines. Chart analysis using the wedge’s dimensions places a measured downside target near $1,750. Analyst Ardi also cited $1,750 as a likely next support area.

Market indicators show institutional selling, ETF withdrawals and reductions by large addresses have outweighed retail buying so far. Santiment noted that peaks in retail optimism after sharp drops can precede further price pressure. Market participants cautioned that investments carry risk and advised conducting independent research before trading.