Negative analysis has emerged regarding Ethereum (ETH), the leading altcoin.

On the 2nd, the cryptocurrency specialist media BeInCrypto reported, citing data from IntoTheBlock, that the net inflow of Ethereum whales has significantly decreased, suggesting a growing possibility that Ethereum might fall below the $3000 mark.

According to the data, the net inflow of large Ethereum holders has plummeted by 73.19% over the past seven days. These whales hold more than 0.1% of Ethereum’s circulating supply.

BeInCrypto stated, “These indicators suggest that large investors are selling or transferring assets, reducing their positions,” and added, “Potential downward pressure can be anticipated.”

Additionally, in the futures market, Ethereum’s ‘taker buy-sell’ ratio has fallen below 1. According to CryptoQuant data, the ‘taker buy-sell’ ratio for Ethereum is currently at 0.94, indicating that selling pressure exceeds buying interest in the futures market.

Meanwhile, as of 10:50 AM today, Ethereum is trading at $3378, up 0.97% from the previous day according to CoinMarketCap.