Ethereum traded near $2,000 after a volatile week, as large-holder selling and spot Ethereum ETF outflows stayed in focus.
On-chain trackers flagged about $14.15 million in ETH sales linked to Ethereum co-founder Vitalik Buterin. ETF flow data also showed about $80.8 million in net spot Ethereum ETF outflows on February 5, 2026.
Price action steadied as broader risk markets bounced. Ether recovered from an intraday low near $1,754 to around $2,068 on February 6. Traders continued to watch whether support near $1,900 holds during heavy positioning shifts.
Ethereum followed the wider crypto downturn during the week. Market pricing showed sharp intraday swings and thinner liquidity at key levels. Ether’s quick rebound highlighted active dip-buying, yet it did not erase recent losses.
ETH derivatives also signaled caution. Sean Dawson, head of research at Derive.xyz, said, “Demand for downside protection is extreme.” Options positioning concentrated around lower strikes into late February expiries, which kept traders alert to further pressure.
On-chain monitoring linked Vitalik Buterin to a planned 16,384 ETH sale program. Trackers reported sales of 6,899.5 ETH at an average price near $2,052, worth about $14.15 million. They also reported the remaining 9,484.5 ETH moved into Aave, which shifted attention to lending and collateral activity.
At the same time, leveraged players reduced exposure. Trend Research accelerated ETH selling to meet loan repayments and moved large amounts to exchanges. Reports said the firm sold 170,033 ETH worth about $322.5 million in roughly 10 hours, while still holding 293,121 ETH afterward. In a post on X, founder Jack Yi said, “We’re just making some adjustments to control risk.”
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Spot Ethereum ETFs stayed negative on February 5. Data showed total net outflows of $80.8 million, led by FETH (-$55.8M) and ETHA (-$8.5M), while QETH posted a $3.5M inflow. Traders often track these flows because they can reflect institutional risk appetite.
Flows alone do not set price, but they can affect near-term demand. With outflows continuing, markets watched for stabilization in both ETF activity and on-chain selling. Ether’s next move may hinge on whether large holders slow exchange deposits and whether leveraged positions avoid forced liquidations.